The Primorsky Territory Development Corp said a “major Russian investor” has agreed to spend at least 10.5 billion rubles ($142m) to build a casino and entertainment complex in the Primorye gambling zone.
The corporation, which oversees development of the zone located near Vladivostok, did not name the investor, who has agreed to sublease three land plots.
“The new resident chose one of the best-located sites – on a hill, practically at the entrance to the gambling zone,” said Olga Sun-zhayu, general director of the development corporation.
“In total, about 14 hectares are intended for construction. The company plans to create high-class entertainment facilities, using the rich experience of implementing such projects throughout Russia. Soon the investor will tell you more about his plans.”
Under the terms of the signed investment agreement, the project will involve at least 300 hotel rooms of at least four-star quality. There will also be at least 500 units of gaming equipment.
Source: Asia Gaming Brief