Primorye Territory draws major interest
Russian company Shambala is set to make a major entertainment investment in the Primorye Territory.
Russia.- The FIFA World Cup may be over but Russia continues to draw attention as the Primorye Territory develops and companies continue to show interest in investing there. Shambala, owned by local businessman Maxim Smolentsev, is set to develop a 16,000-square meter integrated resort complex, for which it presented its plans to governor Andrey Tarasenko.
The company, which took part in a land auction in May, was flushed out of Azov City after the federal government chose to close the gaming zone but has over 15 years of experience in the industry. It has proposed a casino with 500 EGMs and 50 gaming tables, next to a five-star hotel with 270 rooms and a nightclub, after a US$128.6 million investment.
Shambala will take one of the nine plots remaining in the territory, leaving only eight others up for the taking as it begins construction work next September. The building’s design was created by international architectural company AEDAS, designers of The Venetian casino in Macau and the Marina Bay Sands in Singapore.
