In Russia, the government has reportedly reacted to criticism over the lack of investment in the Primorsky Krai gambling zone by announcing that it intends to pass federal legislation to streamline the process of bringing casinos to the Far Eastern province.
Thanks to federal legislation ratified in 2009, Primorsky Krai is one of five disparate Russian regions, which additionally encompass the Kaliningrad Oblast on the Baltic Sea, central Asia’s Altai Krai, the Krasnaya Polyana area near Sochi and sections of the Crimean peninsula, where casino gambling is permitted. Although up to eight developments were initially planned for the area near the city of Vladivostok, the intervening years have seen only the Tigre De Cristal venue from operator G1 Entertainment open at a cost of approximately $144 million.
According to a report from Asia Gaming Brief, Yuri Trutnev, Deputy Prime Minister for the Far Eastern Federal District, recently revealed that the state-owned Primorsky Krai Development Corporation is now hoping to speed things up by drafting amendments to the country’s gambling laws. He purportedly stated that these could be enacted by the end of the year and would simplify the management of future Primorsky Krai casinos.
“The project is global but its development is slow,” Trutnev reportedly told the state-owned Tass news service. “The Primorsky Krai Development Corporation is now tasked with attracting new large international players to the project.”
Opened in 2015, the Tigre De Cristal venue features a casino with 769 slots and 67 gaming tables and is expected to be joined sometime next year by the nearby Seaside Entertainment Resorts City, which is being developed by Cambodian firm NagaCorp Limited at a cost of around $350 million. Domestic operator Diamond Fortune Holdings is also hoping to inaugurate its $900 million Selena World Resort and Casino in 2018 although the plan from Royal Time Group to build its $215 million Phoenix integrated casino resort is now dead after June saw the Kazan-based firm lose its contract with the government.