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Primorye Gambling Zone
September 13, 2015 23:36


Primorye will receive at least one billion roubles of taxes annually after the gambling zone starts working. This was told by the Head of the Primorye Territory Vladimir Miklushevsky within the framework of the Eastern Economic Forum, as RIA “Novosti” reported.

“We will build 21 hotels with a capacity of more than six thousand rooms, and the region will receive more than one billion roubles per year only from the tax on gambling activities, even with the minimum amount of the claimed gaming equipment” - the Governor noted. He reported that entertainment resort “Primorye” will achieve its full capacity by 2022. At this point they will create up to 20,000 jobs just in direct employment and another 30-40 thousand in related industries.

Earlier, on 3 September, it became known that the company “Diamond Fortune” intended to invest 900 million dollars in the construction of the Vladivostok hotel and entertainment complex with a casino named “Selena” during 10 years. The builder plans to commission the facility with the area of 18 thousand square meters by the end of 2016.  “We plan to spend about $ 35 million on the first set, as well as another 5-10 million - working capital (own working capital). We will win (the invested funds) back in a year and a half" - he said.

The company expects that the construction of the second and third hotel complexes will be financed by profits earned after the commissioning of the first casino. The total investment volume of “Diamond Fortune” will amount to 900 million dollars that will be invested over 10 years. The top manager added that the company would focus on the creation of a full-fledged entertainment centre comprising two hotels, casinos and other recreation facilities.

The gambling zone “Primorye” with the area of 619 hectares was created by the government in 2009. They plan to create a resort and entertainment area with a water park, a yacht club, ski slopes and several casinos. Several companies are ready to invest in its development – “Diamond Fortune Holdings”, “Royal Time” and “The First Eastern Gambling Company” (controlled by Melco International Development). Melco planned to open the first casino in the gambling zone on September 1, 2015, but then moved the term to October.


Author: Anna Dorozhkina

Tags: Primorye Russian gambling zones    

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