Primorye land to be completely leased by 2019

According to the promoter of the Primorye Integrated Entertainment Zone, land plots are expected to be leased by the end of this year.

Russia.- The Primorye Integrated Entertainment Zone (IEZ) continues to develop in the Russian Far East as the gambling industry invests in the area. According to the promoter of the IEZ, the Primorsky Krai Development Corp (PDC), all of the land plots earmarked for phase one are expected to be leased by the end of 2018.

“We hope to lease all of the land plots [in phase one] by the end of this year,” PDC director general Igor Trofimov told GGRAsia in an interview. There are six land plots still available for private investors to lease, but the corporation expects them to be taken before January 1 2019.

“We are just waiting for some documents so that we move forward with the payment and finalise the investment agreement and lease contract,” the official said and added: “The announcement should be made shortly.”

Furthermore, Mr Trofimov explained that they are “in negotiations with Korean companies and NagaCorp, with which they are actually finalising negotiations,” and explained: “However, depending on the number of companies interested in these plots, we might launch one more auction.”

The area continues to draw major casino operators’ interest and is set to become one of the biggest gaming hubs in the world over the next few years.