The local government is in negotiations with an unidentified developer that wants to invest in Russia’s gambling zone.
Russia.- According to a report there’s currently four entities that are interested in developing a casino in Crimea. An unidentified developer is in talks with the government to invest US$150 million of Russia’s newest gambling zone.
Three of the entities are registered in Moscow, Russia, whilst the other one has Spanish roots. An unidentified source close to the process said that there is a major investor who is willing to contribute to the project with more than US$150 million. “He intends to rent all the areas allocated for the gaming zone to sublet them to other investors wishing to participate in the project,” they said.
Crimea was approved by the government back in June and the report states that the unidentified investor is also involved in construction. Earlier this month Summit Ascent Holdings and SMJ Holdings Limited confirmed that they’re not interested in developing a casino in Crimea.
Craig Ballantyne, Executive Director for Summit Ascent, said that the company is currently working with Melco International Development and they’re both investing in Primorye, another gaming zone in Russia.