On Friday it was announced on the official website of ?the executive authorities and administrators of Primorsky Krai in Russia that another operator has started construction of an entertainment and casino resort project there.
Diamond Fortune Holdings Prim is one of four operators who have received permission to carry out gambling activities in the Russian gambling zone. The five-star hotel, casino, and entertainment complex is to be called Selena World Resort & Casino.
Upon completion of the first phase a?casino,?entertainment center and hotel will be completed.
Further development in the area will include another casino, an additional hotel with dining and entertainment venues, as well as an?amusement park. Later phases of the project will see a seven-star hotel with private villas.
According to reports, CEO of Diamond Fortune, George Kondakov, says the first phase of the project will cover about 10 hectares. He says that all operations at the facilities will be undertaken so as to do the least possible harm to the environment and will have?all necessary approvals. Some of the first work is forest clearing required for geological drilling, taking rock samples to determine well placement, etc. More clearing will be done to prepare for substrate and leveling.
The Russian Federation government created the Primorye Krai gambling zone in 2009.
Four developments are authorized in what is known as the “Integrated Entertainment Zone of the Primorye Region”, or Primorye?IEZ.
Other developments include Tigre de Cristal which is expected to open in late August. The Russian company held by Melco International responsible for the project is The First Gambling Company of the East, a subsidiary of Summit Ascent?Holdings Limited.
Seaside Entertainment Resorts City may be the current working name of NagaCorp’s project. The Primorsky news outlet published information on May 22 showing ground breaking ceremonies attended by NagaCorp President Tan Sri Dr Chen Lip Keong, as well as First Vice-Governor of the Primorsky Territory, Basil Usoltsev among many others. That project will be built in three phases, with the first phase seeing an investment of up to US$200 million. At build-out the investment is expected to at least double. Late last year Russian media reported that the NagaCorp project was being designed by?noted Las Vegas casino architects, Steelman Partners. Video of the ceremonies (no English subtitles) may be seen here.
No working name is yet known for the fourth operator’s project, but construction may already be underway. Royal Time LLC’s development was also conceptualized by Steelman Partners. The first hotel with casino will have 320 rooms and should be completed in 2017. The third and final stage could be completed by 2021 according to Rashid Taimasov, Director general of Royal Time LLC.