Firms Show Interest In New Russia Casino
Asian Casino Developers Want To Invest Heavily In Casino-Resort
Interest in building a new mammoth casino complex in Russia reportedly is heating up.
According to Reuters, Asian casino developer NagaCorp Ltd. has become the second major player in pitching a possible casino in an “entertainment zone” in Russia, a region that would be allowed to host a brand new casino-resort. This entertainment zone reportedly is one of four legal casino zones in the country. A nationwide embargo on casinos was imposed in 2009.
NagaCorp is currently a casino operator in Cambodia.
It said it would spend $350 million for its new Russia casino.
The region where there is increasing interest is attractive because of its close proximity to China. Chinese gamblers have fueled Macau’s rise to the top gambling market in the world. The former Portuguese colony is expected to reap more than $40 billion in gaming revenue this year. For comparison, Nevada should bring in around $11 billion this year.
In addition to NagaCorp, Macau casino boss Lawrence Ho expressed interest in Russia in July, saying that he would invest $130 million into a project there.
Other countries such as Japan, Taiwan and Vietnam are also looking at more gambling.
Reuters reported that NagaCorp said its new Russian casino wouldn’t be open until 2018.
A new Russian casino could be located near the port city of Vladivostok.
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