Shambala CJSC announces plans for Russian Far East casino

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In Russia, local firm, Shambala CJSC, has reportedly unveiled plans that will see it construct an around 172,200 sq ft integrated casino resort in the Primorye Integrated Entertainment Resort zone near the port city of Vladivostok.

According to a report from Asia Gaming Brief, the Russian company announced that it is now set to spend approximately $128.6 million on the project after winning an auction recently conducted by the state-owned Primorsky Krai Development Corporation for two parcels of land in the casino-friendly district.

Asia Gaming Brief reported that Shambala CJSC, which is controlled by Russian businessman, Maxim Smolentsev, envisions starting design work on the coming integrated casino resort in September with the eventual facility featuring a 270-room five-star hotel as well as a gaming floor with around 500 slots and 50 gaming tables.

Thanks to federal legislation ratified in 2009, the Primorye Integrated Entertainment Resort zone is one of only five disparate areas in Russia where casino gambling is permitted. Summit Ascent Holdings Limited opened its $144 million Tigre De Cristal venue in the sector some 31 miles north of Vladivostok in 2015 while April saw Cambodian firm, NagaCorp Limited, begin construction on its nearby Naga Vladivostok development. These could be joined as soon as next year by the $900 million Selena World Resort and Casino from local operator, Diamond Fortune Holdings, with Asia Gaming Brief moreover reporting that the Primorsky Krai Development Corporation hopes to subsequently conduct auctions for eight remaining casino-friendly plots.

Shambala CJSC announces plans for Russian Far East casino was last modified: June 4th, 2018 by Adam Morgan