- State-run gaming corporation opens bids for three sites
- Developers have until August 28 to put forward proposals
The state-run corporation responsible for the Primorye Integrated Entertainment Zone in Eastern Russia has announced that three casino developments sites are open for independent auction, with bids invited from interested parties at home and overseas.
GGRAsia has published details of the three sites on offer, and the conditions attached to any license provisions. Any developer interested in moving operations to the district will have until August 28 to file a notice of intent, and all winning bids will be announced on August 29.
Entertainment zone hopes to attract investment
The Primorye Integrated Entertainment Zone, or Primorsky Entertainment Resort City, is operated by the state-owned Primorsky Krai Development Corp. Based in Vladivostok, the resort site covers close to 100 hectares and is open for development, with plans to attract a series of casino venues to the district.
There are conditions attached to all three sites on offer, so developers will need to work closely with Primorsky Krai Development Corp. to ensure these terms are met. Each site carries a minimum investment price tag, varying from $120 million to $300 million, and all plots must include a hotel facility along with a casino complex.
The terms of the deal will also cover the size of gaming operations: two of the plots are required to host a minimum of 500 slot machines and 100 gaming tables. The three sites vary in size, from 7.9 hectares to a huge 19.7 hectare plot. The largest of the three sites must include a park for visitors in the finalized plans.
Tigre de Cristal reports struggling gaming market
One resident at the complex has already opened its doors to the public – the Tigre de Cristal, which opened in 2015. The casino resort includes two restaurants, five bars and a number of luxury hotel rooms and suites, as well as a range of gaming facilities. However, gambling operations at the Tigre de Cristal were scaled back earlier this year, with the number of slot machines reduced and all poker tables removed indefinitely.
The casino states this is due to illegal competition in the region, leaving the legal resort struggling against private games and back-room casinos. It is hoped that the surge of new legal gaming activity at the Primorye site will revive the market – and force officials to take action against illegal play.
Another casino, owned by Cambodian development brand NagaCorp., is set to open in the Entertainment Zone in 2019. Construction of the casino hotel is already underway. If all three plots are successfully sold, this will raise the number of residents at the Primorye Integrated Entertainment Zone to five.
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