Russian investor Diamond Fortune Holdings Prim has begun construction of the hotel and entertainment complex, Selena World Resort and Casino, in Russia’s far eastern Primorye gambling zone. According to the Primorye Territory Development Corporation, the company has already concluded the pre-construction activities and even intends to complete the construction ahead of schedule. Diamond Fortune Holdings […]
Russian-casino developer Diamond Fortune unveiled its plans for its US$900 million Selena World Resort to the Primorsky Territory Administration last week, local media reports. Located in Russia’s Primorye gaming zone, near Russia’s Far East, the casino will consist of three distinct areas and gaming floors, Golden Gate, Moon Gate and Sun Casino & Resort, all […]
Russia has passed a bill that doubles tax rates for both land-based casinos and bookmakers, with even more hikes in the pipeline, raising concern the ever shifting sands of regulation are changing the outlook for the industry and threatening foreign investment. Steve Gallaway, managing partner at Global Market Advisors, says the “changes to the tax regime are devastating for the IEZ (Integrated Entertainment Zone) in Primorye,” referring to the most developed of Russia’s gaming zones.