In Russia, the state-owned Primorsky Krai Development Corporation has reportedly declared that Asian casino operator NagaCorp Limited has begun construction on the foundations for the first phase of its planned 279-room Naga Vladivostok venue.
According to a news item from GGRAsia citing a Friday report from Primorsky Krai Development Corporation, the coming eleven-story integrated casino resort is expected to open early next year approximately 31 miles north of Vladivostok complete with a 21,500 sq ft multi-purpose concert hall.
“According to the company’s management, the foreign resident of the gambling zone plans to completely finish the hotel building by the end of 2018 and launch the entire entertainment complex in 2019,” read a statement from Primorsky Krai Development Corporation.
Hong Kong-listed NagaCorp Limited is responsible for the NagaWorld casino and entertainments complex in Cambodia and reportedly intends to add an outdoor pool and water park to its 592,000 sq ft Naga Vladivostok by 2022 while moreover utilizing the Far East property’s beachfront location to offer a range of other pursuits such as yacht tours.
“The concept of the new complex will place a great emphasis on the entertainment spectrum of services,” read the statement from Primorsky Krai Development Corporation.
Thanks to federal legislation ratified in 2009, Primorsky Krai is one of only five disparate Russian regions where casino gambling is permitted. Although up to eight developments had initially been planned for the vast area, the intervening years have seen only the Tigre De Cristal venue from operator Summit Ascent Holdings Limited open at a cost of approximately $144 million.
GGRAsia reported that Summit Ascent Holdings Limited is currently expanding its Tigre De Cristal development with an estimated completion date in July or August while local operator Diamond Fortune Holdings remains hopeful of inaugurating the first stage of its $900 million Selena World Resort and Casino sometime next year.