Experts evaluate Primorye development

New casinos in the Russian gaming zone of Primorye would not operate until late 2019.

Russia.- Gaming expansion in the Russian touristic zone of Primorye would continue to be delayed, according to the research and information firm Union Gaming Securities Asia Ltd. Currently, only Tigre de Cristal Casino operates in the allegedly gaming territory, located at Russian Far East.

“In all likelihood Summit Ascent will remain the lone operator until at least second half 2019…” revealed Union Gaming Securities Asia Ltd. last week, according to GGRAsia. International tourism industry will only be able to visit Summit Ascent’s Tigre de Cristal Casino throughout the following two years, although Primorye was set to become one of the biggest gaming hubs in Russia.

However, the research firm reported currency exchange issues at the only operating casino. “This is because foreign currency must first be exchanged (for a fee) into roubles at a third-party bank located within Tigre de Cristal, which must then be exchanged for gaming chips. The process repeats itself in reverse when a customer is ready to leave, including incurring foreign exchange transaction fees again,” stated Union Gaming Securities Asia Ltd. analyst Grant Govertsen.

Experts have explained that the problems in the Russian casino hub could be based on the residents’ access to Asia-Pacific touristic centers and local based casinos. However, the Federal Government seeks to intervene in the regulating and licensing process to further develop the city. Primorye has been previously controlled by the local administration.