Tax revenue at the Primorye Integrated Entertainment Zone (PIEZ) is expected by Russian authorities to reach RUB165 million (US$2.5 million) this year, and by 2022, 700 million annually.

Last week Friday, Sergey Nekhaev, the vice-governor of Primorye, made the statement, which appears on the state-owned Primorsky Krai Development Corporation’s main page. Regarding jobs, Nekhaev said that in the region, more than 1,000 have been created and that he expects that number to grow to 9,000 in 2019 and reach 15,000 in 2022. The number of hotel rooms has also increased, with the current 121 rooms in the region expected to increase substantially to 1,500 in 2019 and by the end of the project reach 6,500.

Konstantin Shestakov, the head of the local tourism department, was quoted earlier this year by state-operated domestic Russian-language news agency RIA Novosti as saying that since its official opening on October 8, 2015, more than 30,000 people have visited the Primorye gaming zone, according to Asia Gaming Brief. It was also noted by Shestakov, that the overall growth of tourist inflow increased by 18.5 percent in 2015, with the majority of tourists currently spending as many as three days in the region. Some 227,950 out of 364,802 foreign tourists came from China.

Approximately RUB110 million in payments to extra-budgetary funds and taxes were paid by the gaming zone three months after its official launch. Included was the tax on gaming business to the territory budget of Primorye worth RUB37.5 million.

Meanwhile, in March, Diamond Fortune Holdings Prim presented their plans for the Selena World Resort under development in the PIEZ to the Primorsky Territory Administration, who unanimously approved the concepts. With a final price tag of US$914 million expected and upwards of 3,300,173 square feet of finished development on 9 of 25 of Diamond Fortune Holdings Prim’s land lots under development, Selena World Resort will be the largest of the offerings in the Russian gaming zone.

Approximately 60 hectares over at least 4 other land lots still remain unaccounted for to as least 3 other possible developers. By the end pf 2018, at least one casino of each of the currently known developments will be in operation and the entire gaming zone is slated to be completed and fully operational by 2022.

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