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Chinese gamblers the main target for Russian Casino

Wednesday May 23, 2012 : ASIAN PUNTERS THE ATTRACTION FOR A RUSSIAN CASINO IN VLADIVOSTOK
 
Grand plans for remote industrial city
 
There are ambitious plans afoot for one of the four remote areas designated by the Russian government as legalised gambling areas , with avid Chinese gamblers the main target for a major gambling resort complex in the largely industrial and naval city of Vladivostok, a two-hour flight from South Korea and Japan.
 
The hope is that investors in booming Macau and Singapore gambling venues will see the additional opportunity that Vladivostok represents due to its proximity to China, reports the Reuters news agency.
 
Russia's state-owned Nash Dom Primorye is set to announce at the Global Gaming Expo in Macau today (Wednesday) that it is seeking private investors and companies to build casino resorts in a six square kilometre area near Vladivostok.
 
Known as the Integrated Entertainment Zone, the project has space for roughly five large resorts.
 
A report from research firm Gaming Market Advisors estimates the zone could rake in revenues of $2 to $7 billion when completed. By comparison, Singapore's casino area which is similar in size, took in more than $5 billion in 2011.
 
Nash Dom Primorye has appointed Las Vegas-based Galaviz and Co as lead strategic adviser for the tender, which will be initiated in June, giving potential international operators 60 days to send in a pitch and budget estimates. The government will then enter into discussions with potential investors by the end of October.
 
Marina Lomakina, general director of Nash Dom, told Reuters in an interview she hoped the zone would be fully completed within five years.
 
"We want companies who are well known and will help create amenities that are more than just casino gaming," she said, adding that the zone would require a total minimum investment of $2 billion from private investors looking to develop properties.
 
The masterplan includes luxury hotels, a yacht club, shopping malls as well as outdoor sports such as golf. As it stands now, the zone is 2.6 square kilometers, but can be extended to six square kilometers.
 
Reuters reports that the Russian port city has invested $7 billion over the past five years to develop infrastructure, including a new airport, bridges that resemble San Franscisco's Golden Gate and a new university. It is constructing more roads and transport links for the resort zone.

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Gambling News :

Interwetten 2016 Earnings Results - Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform

EU Online Gambling Tax Harmoney Dead - Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.

Jack Lam Facing Big Fines in the Philippines - It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.

Walter Merricks Term As Gambing Commissioner Extended - The UK Government has extended Walter Merricks’ term as Commissioner of the Gambling Commission for a further year, ending December 31, 2017.

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

PlaySugarHouse To Carry Konami Content - Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.

ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

GSA To Launch European division - The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.

Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

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