Reported delays on Primorye casinos
Casino operators had to delay their developments in the Russian gambling hub, Primorye.
Russia.- Calvin Ayre has published an analysis about the delays on the Russian casino projects, and according to the information, the business developments in the local gambling city of Primorye have been facing several challenges during the investment and construction processes. Currently, only Tigre de Cristal is actively operating.
Experts have allegedly explained that the problems in the Russian casino hub could be based on the residents’ access to Asia-Pacific touristic centers and local basement casinos. Earlier this month the court of Primorye ruled to uphold the Development Corporation’s claim to finish the deal with Royal Time subsidiary Royal Time Primorye. The company will also have to pay US$212 in court costs.
The Development Corporation of the Primorsky Territory filed the claim in April over the company’s subsidiary’s failed attempts to develop the project on schedule. The territory’s Vice-Governor had also warned the developers to stick to the agenda if they didn’t want further fines.
Aleksandrom Latkinym, academic at the Institute of International Business and Economics, commented during an interview with Federal Press that Primorye’s casino delays are related to residents’ participation at Asian casinos that count on “wider range of services and cheaper hotels.” However, this week the Diamond Fortune Holdings announced the beginning of the construction process of its casino in the city. The company’s gaming hub would start its operations by 2019.
