The government of Russia is auctioning two land plots to install new casinos in the gaming zone of Primorye.
Russia.- Primorsky Krai Development Corp confirmed that the government of Russia has allowed the auction of two land plots to establish further casino resorts in the gaming city of Primorye, in East Russia. The larger plot covers 10.8 hectares and the other 2.9 hectares, according to the statement published last Friday.
“At present, 10 sites with a total area of 60.8 hectares [150.2 acres] remain free on the territory of the IER. We plan to hold several auctions in which all the lots will be exhibited in turn,” Igor Trofimov, interim general director of Primorsky Krai Development, said in a statement published by local newspapers. “The first lot will be presented as two plots… with a total area of 14 hectares. The minimum amount of investments should be at least RUB8 billion [US$125.4 million].”
The auction would start on May 29th, as reported by Primorsky Krai Development. The zone would have “at least eight hotels with restaurants and casinos, as well as entertainment facilities.” “It is important to understand that our main task is to create an integrated entertainment resort [area], which implies not only the development of gambling and hotel construction but also the full development of the entertainment sector,” Trofimov concluded.