Asian casino news service GGRAsia informed about each of the three plots. The first of the three sites occupies 7.9 hectares of land. Interested developers will have to establish a US$ 120-million resort with a four-star hotel and a casino. The gaming portion of the complex will have to feature at least 300 slot machines and 50 gaming tables.
The second plot includes 13.78 hectares of land. It goes with a US$ 210-million minimum investment requirement and will have to feature a hotel and a casino with more than 500 slot machines and 100 gaming tables.
The third site covers a 19.7-hectare area and will have to be developed into a hotel and casino complex with a park. The winning bidder for that plot will have to pledge US$ 300-million investment. The resort’s casino floor will have over 500 slot machines and 100 gaming tables.
A Primorsky Krai Development spokesperson has explained that part of the land now auctioned has previously been claimed by a joint venture between Russian and Chinese investors that were unable to secure the minimum required investment.
The Primorye Integrated Entertainment Zone currently hosts one casino resort, Tigre de Cristal. Phase One of the complex was launched in the fall of 2015 and it is believed that the amount of US$ 500 million will be invested in its second phase. The new phase will feature additional hotel rooms, conference facilities, retail space, and food and beverage options.
Construction work on Phase Two will commence sometime this year and is scheduled to be completed in 2019. Tigre de Cristal is owned by Summit Ascent Holdings, which is, in turn, owned by casino tycoon Lawrence Ho.
Another casino resort is currently under construction in the zone. Cambodian casino developer and operator NagaCorp broke ground on the complex back in May 2015. The property is expected to open doors in 2019.
Investor Diamond Fortune Holdings has been gearing up for
breaking ground on its Selena World Resort and Casino. The company has recently
announced that it believes it will manage to complete construction work in
2019.
Source: GMB / Casinonewsdaily.com
