Primorsky authorities praise IR zone

Authorities of Primorye have highlighted the “great importance” of the Integrated Entertainment Resort zone to be developed.

Russia.- Primorsky Territory deputy governor Andrei Larin highlighted the “great importance” of the successful development of the Primorye Integrated Entertainment Resort zone in the Russian Far East. He was quoted by Primorsky Krai Developent Corp as it confirmed an agreement for the development of another casino project in the area.

The new casino project will be called Shambala and will be promoted by Shambala CJSC, a gambling firm that operates in other parts of Russia. It will feature “a large-scale project of a hotel and entertainment complex” involving a minimum investment of €108.4 million. In addition, it will include “at least 270 hotel rooms”, and over 500 slot machines and 50 gaming tables.

Andrey Tarasenko, governor of Primorsky, said that “to date, the number of investment agreements concluded with investors has almost reached €948.5 million,” of which “more than €135.5 million was realised already.” He also said that “after 2025 the project will bring about €135.5 million to the regional budget each year.”

Primorye is poised to become one of the world’s most important gaming areas as it still has six plots with a total area of 27.59 hectares still unoccupied. “Negotiations with potential investors are underway already,” stated the Primorsky Krai Development in a release.