Gambling in Russia is back in the news with the Primorsky region in the east and nearly 6 million square meters of undeveloped land 52.2 km from Vladivostok. The Primorye gambling zone project provides for 16 hotels, casinos, yacht club, trade show centre, offices and beaches amongst other things. According to OJSC Nash Dom – Primorye, a government corporation owned by the Primorsky Region Government, the unique ecological system of the region and its proximity to the Asia-Pacific maximise the investment potential of the gambling zone project and the operation of gambling zone facilities will encourage the development of the region, increase tourist flow and offer new jobs to local citizens.
Primorsky means ‘maritime’ in Russian and the province has the largest economy in Russia’s far east. Bordered by China, North Korea and the Sea of Japan, the average annual temperature at the coast is a mere 5.5 °C and even colder in the mountainous north. Fish processing is the major industry with shipyards and machine production mostly geared towards the fishing industry and defence. Timber, electricity production and agriculture are important economically.
Of course it will be the proximity of China that will be of most interest to possible gambling zone investors. Infrastructure in the region is good, with railroads connecting to China and North Korea and Vladivostok being the eastern terminus of the Trans-Siberian railway. By air Tokyo and Beijing are just 3 hours away and Seoul, South Korea even closer. There is an airport 25 km from the gambling zone, which will be located in the resort area of Ussuriysky Bay on the coast near the Cherepaha Cape.
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Nash Dom Primorye reports that the gambling zone project is financed with the assistance of co-investors from non-budgetary sources and that the project has attracted attention of Russian and foreign investors from China, USA, Austria and Japan. It is intended to break the project into 3 phases, the first to 2016 and the final phase from 2019 to 2022. A year ago the Primorsky Region Government published its gambling order on 31 May 2011 and there is also a Primorye Gambling Zone video presentation showing the planned development.
Russian Gaming Week, the gambling and entertainment expo and forum to be held 4 & 5 July in Moscow, will include information on the development of the Russian gambling zones. Lenar Kashapov - director of NGO “Association for development of Azov City gaming zone” will speak on “Trends in the development of gambling zones in Russia.” Before that, at this week’s G2E Asia, Nash Dom Primorye will be seeking interest from possible private investors before issuing a public tender next month. (E-05.23.12)
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