Primorye offers three casino licenses
International casino operators would be able to present new projects to install casinos in Russia.
Russia.- Primorye gaming zone in Russia is set to allow three new casinos throughout the following months. Three plots would be auctioned by the Primorsky Krai Development Corp, the governmental company in charge of the development of Primorye Integrated Entertainment Zone (IEZ.)
The government of Russia took control of casino development in Primorye after several projects were delayed. As part of a national plan to boost regional economy and tourism industry, the Primorsky Krai Development Corp announced three independent auctions in the territory destined to gaming attractions.
The bidding process has begun last Friday, whilst the deadline was set for August 28, according to GGRAsia. International operators will be able to present four to five stars casino and hotel projects, which would require a minimum investment of US$120 million to US$300 million. The government will select the winner on the 28 and the announcement would be made the following day.
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 gaming territory, located at Russian Far East. 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.
