{"id":28275,"date":"2022-03-22T06:48:33","date_gmt":"2022-03-22T09:48:33","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=28275"},"modified":"2026-04-23T10:20:24","modified_gmt":"2026-04-23T13:20:24","slug":"south-korean-company-to-develop-new-casino-resort-in-russias-primorye","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/south-korean-company-to-develop-new-casino-resort-in-russias-primorye","title":{"rendered":"South Korean company to develop new casino resort in Russia’s Primorye"},"content":{"rendered":"\n

The Primorsky Territory Development Corporation has revealed that Plgen Holdings has signed an agreement to build a casino resort in the Russian gambling zone.<\/p>\n\n\n\n\n\n\n\n

Russia.-\u00a0While many companies pull out of Russia, the country’s Primorye Gambling Zone<\/strong> is still attracting developers. A South Korean company called Plgen Holdings has confirmed it will develop a casino resort in the region, with a slated opening of late 2025.<\/p>\n\n\n\n

According to the Primorsky Territory Development Corporation, Plgen Holdings will initially\u00a0invest RUB2.5bn (US$23.4m)<\/strong>\u00a0in the first phase of the resort, which will include a casino hotel with more than 100 rooms.<\/p>\n\n\n\n

The announcement comes after NagaCorp decided to\u00a0suspend the development<\/a> of its US$150m casino resort in Vladivostok\u00a0<\/strong>\u201cuntil circumstances are clearer.\u201d It gave no reason but it’s believed sanctions against Russia may have affected its ability to fund the project.<\/p>\n\n\n\n

Igor Trofimov<\/strong>, executive director of the Primorsky Territory Development Corporation, said: “We are pleased to welcome new foreign investors and are confident that this is a good continuation of the fruitful cooperation between the Republic of Korea and the Primorsky Territory in the development of tourism and international relations.”<\/p>\n\n\n\n

The first resort in Primorye,\u00a0Summit Ascent\u2019s Tigre de Cristal<\/strong>, opened to the public in 2015.\u00a0It was followed almost five years later by\u00a0Shambhala<\/a>, which opened at the height of the coronavirus pandemic.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Primorsky Territory Development Corporation has revealed that Plgen Holdings has signed an agreement to build a casino resort in the Russian gambling zone.<\/p>\n","protected":false},"author":176,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Plgen Holdings, a South Korean entity, has committed to developing a casino resort within Russia's Primorye Gambling Zone, with an initial investment of RUB2.5bn (US$23.4m) and a target opening in late 2025. This development signals continued foreign direct investment into the region's gaming vertical, notably following NagaCorp's suspension of its own resort project amidst geopolitical uncertainties.","focusai_entities":"Plgen Holdings, Primorsky Territory Development Corporation, NagaCorp, Summit Ascent, Igor Trofimov, Tigre de Cristal, Shambhala","focusai_location":"Russia, Primorye Gambling Zone, Vladivostok, Republic of Korea","focusai_target_profile":"ceo_executive (0.9), regulator (0.8), compliance_legal (0.7), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Funding Structure","query":"What specific governance frameworks and capital repatriation mechanisms are in place to mitigate geopolitical and sanctions-related risks for Plgen Holdings' investment in the Primorye Gambling Zone?"},{"label":"Market Impact","query":"How will Plgen Holdings' entry and NagaCorp's suspension alter the competitive landscape and projected GGR for the Primorye Gambling Zone, particularly concerning international visitation and player acquisition strategies?"}],"footnotes":""},"categories":[28,16331,158],"tags":[23907],"class_list":["post-28275","post","type-post","status-publish","format-standard","hentry","category-casino-news","category-elsewhere-news","category-slider-home","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28275","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=28275"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28275\/revisions"}],"predecessor-version":[{"id":28284,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28275\/revisions\/28284"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=28275"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=28275"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=28275"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}