Soon The Primorye Region Will Witness A +1 Casino Operator

Article by : Helen Aug 31, 2020

Currently, Primorye is one of the areas in Russia where gambling is officially permitted. Many government officials have repeatedly announced their ambitious plans to make Primorye one of the most luxurious places for gambling casinos. According to preliminary estimates, the development of this region will take a long time. Today this region is represented by only one operator, Tigre De Cristal.

Primorye Gambling Zone (PGZ) expects about 11 gambling companies to enter the market in the next three years. However, the coronavirus’s impact on gambling operators and regional authorities’ ambitious plans turned out to be too serious. The opening schedule for new casinos seems to have to change. This will continue until the situation becomes more favorable. Currently, an active phase of opening a second casino resort called Shambhala is underway. Such a step could give a new impetus to the development of PGZ and eventually turn the region into the most significant Russian gambling center.

Shambhala Casino prepares to open its doors in the next few months. The facilities’ construction finished only a few months ago, and the interior design is currently underway. According to preliminary information, the company’s management was planning to launch the business in July. However, the global coronavirus pandemic has made changes to the current schedule. The virus is still a significant threat to guests and staff of the gambling establishment. It seems that Shambhala has its own plan. These are clearly defined measures to prevent the spread of the virus and ensure guest staff safety.

In any case, the opening of a casino is impressive news for the entire region. As stated by the Far East Investment Promotion and Export Support Agency, the new operator will be able to provide more than 500 jobs by the end of 2020. About half of the staff will be formally employed within the next 30 days. The rest of the team will be able to take up their duties within the next few months. About a third of employees will be transported to this region from other parts of Russia to ensure the casino’s smooth operation. It seems that the launch of the new game facility will provide the Primorsky region with substantial tax deductions. This is a good precondition for economic growth.

Last year’s regional budget was able to receive more than 1 million US dollars in tax deductions.

Vera Shcherbina, First Vice Governor of Primorsky Territory

It is expected that this year the amount of taxes from gambling establishments will exceed $2 million. If the situation unfolds in the best possible way, tax revenues could exceed $30 million by 2025.

The opening of Shambhala will proceed in several stages. After the construction of the first complex and its commissioning, the company will begin building the second complex with ​​over 42,000 square meters. This includes the hotel and various entertainment venues. The second phase for Shambhala could take about 3 years before opening its doors to visitors.

Earlier it was reported that Primorsky Krai aims to become the largest gaming center in the Asian region. Such ambitious aspirations received almost instant support from the state. The area received over $20 billion in direct investment. Shambala announced the acquisition of land to develop a gambling and resort direction back in July 2019. According to preliminary estimates, the deal amounted to about USD 125 million. Anyway, the brand has to change its plans for the opening until the Covid-19 issue is settled.

Helen

Chief Editor

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