China's Summit Ascent Holdings will become the first foreign investor taking part in the construction of the gambling zone in Russia's Far East.

      The size of the investment has not been disclosed. Russian companies were reportedly prepared to invest up to $600 million.

      Gambling is banned in Russia except for four regions - the Primorye Region, the Kaliningrad Region, the Altai Region, and an area on the border between the Krasnodar Region and the Rostov Region.

      However, little was done to develop the zones, and the industry has largely operated illegally.