Cambodian casino operator NagaCorp will start construction of its first gaming facility in the Primorye gambling zone in Russia’s Far East in November this year, the regional government announced on Friday.
According to Primorsky.ru, Naga Corp chairman Tim McNally has been quoted as saying that the company’s project – which includes hotel facilities “Mayak” (Lighthouse), along with a casino and a water park – is on schedule.
“We expect to launch our first facility in the summer of 2018. At the moment, we are finishing the preparation of the land lot. Construction teams of our Chinese contractor China Harbour Engineering Company are ready to start,” he said.
During the first stage of the project, the company plans to build a 11-storey hotel complex with a casino, allocating $70 million. The facility will include a hotel with 279 rooms and a 2,000-seat concert hall, with 300 slot machines and 30 gaming tables in the casino lobby.
NagaCorp’s plans were confirmed by the local authorities. “Builders will come to the construction site within the time period specified in our investment agreement with NagaCorp. At the last meeting we agreed [it would happen] in the end of October or early November,” representative Andrei Folomeev said.
The company began the development of its land lots in Primorye in May 2015. It is the only investor whose facilities are situated on the gulf shore.
Investment in the project is expected to total $350 million, and it is scheduled to be completed by 2021.