Primorye Entertainment Zone (Vladivostok Casinos)
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The Russian subsidiary of Hong Kong-listed Summit Ascent Holdings Ltd will increase its stake in Oriental Regent Limited (ORL) – operator of Tigre de Cristal in the Primorye Gambling Zone near Vladivostok – by 10% to 77.5% as part of a fund-raising exercise for the casino’s Phase II expansion.

Suncity Group had previously stated that both the share acquisition and share subscriptions, “can be interpreted as a strong support from the major shareholder Suncity. This is also an indication that regardless of Tigre de Cristal’s existing shareholders’ financial statuses, Phase II will go ahead from blueprint to brick and mortar as planned.”

Phase II will double the total size of Tigre de Cristal and triple the number of hotel rooms, with Suncity noting there are little restrictions on how many gaming tables and slot machines allowed under its casino license.

Source: https://www.asgam.com/index.php/2020/11/17/summit-ascent-to-increase-tigre-de-cristal-stake-to-77-5/

Phase 1 of Shambala Hotel





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Investment is being sought from a number of regions outside of Russia according to this article. It looks like some of the initial resort projects failed to find funding until external investors were brought in more recently.

The implementation of the project of the integrated entertainment resort (IRK) "Primorye", despite the difficulties with the pandemic, is proceeding smoothly. Last week, the official opening of the second casino took place, the investor of which was a Russian businessman; next year, an investor from Cambodia is expected to open a casino, according to IA PrimaMedia.

At the moment, there are three vacant land plots left in the Primorye IRC, one of which is being negotiated with potential investors, Deputy Prime Minister of the Primorsky Territory Konstantin Shestakov said in an interview with Interfax-Far East.

The authorities of Primorye count on the participation of investors from Japan in the gambling zone, who have not shown much interest in the project so far.

"They continue to invest in us (the gambling zone - editor's note). And foreign companies are investing in us - this is important. Koreans are investing in golf, investors from China, Cambodia are investing in hotels. Let it be so. I would like it to be on our investors from Japan have appeared on the market. Negotiations are underway on one of the sites, we are in the process, "Shestakov told Interfax.

Source: https://primamedia.ru/news/1012509/

Russia’s planned version of the Las Vegas Strip will finally open its second resort, the Casino Shambhala. Operations will commence this Friday, Oct. 16.

The casino cost RUB3.5bn ($45m)?and offers the players 56,000 square feet of gaming space, as well as three dining locations and a theatre.

The second phase of the construction should begin in 2022; with the additional construction, the project should cost RUB8bn ($11.5m) in total and will include several hotels, a conference hall, a golf course, and even amusement and water parks.

Sources:
https://www.asgam.com/index.php/2020/10/14/russian-casino-shambhala-to-hold-grand-opening-this-friday/
https://www.casino.org/news/russias-version-of-las-vegas-strip-opening-second-casino-resort/
https://www.gamblinginsider.com/news/10203/shambhala-casino-set-to-open

Shambhala casino is almost completed and due to open as early as this summer!

Infrastructure construction is in full swing. These roads will connect Tigre De Cristal with the Shambhala and Naga resorts. Adjacent to the two latter is a beautiful beach which is already in use by the locals.

Naga Vladivostok appears to be on hold. There is no construction activity on site. Maybe due to the coronavirus lockdown? Naga is a Cambodian company and all commercial flights in and out of Russia have been cancelled since end of March.

Construction on the roads connecting the two new casinos has commenced.

Shambhala Vladivostok concept art:





Source:
https://www.vl.ru/shambala-cazino

The Agency for attracting investments and export support expects that the second casino in the integrated entertainment resort area of ??Primorye, the Shambhala hotel and entertainment complex, will open in the summer of 2020, the IPA press service reports.

“The opening of the first phase of the Shambhala hotel and entertainment complex in the Primorye Integrated Entertainment Resort Area (IRKZ) is expected this summer. The official opening will take place in the second half of 2020. In the first stage, the company will recruit about 500 staff. The construction work has been fully completed at the facility, and finishing is underway”, the report said.

According to the investor, by 2022 Shambhala will also include a hotel, conference and banquet halls, a sports complex, spa and shopping areas.

This is the second casino in the Primorye IRKZ. It is built by a resident of the free port, Shambhala CJSC. Now, in addition to the existing complex Tigre de Cristal casino, a four-star hotel complex (Naga Vladivostok) with a water park and casino is being created in the gambling zone, the opening is scheduled for 2020. Also, work is underway to create a hotel and casino complex called Selena and another project with the name 'Sun' is being designed.

Source:
https://www.newsvl.ru/vlad/2020/06/06/190650/