Primorye projects full speed ahead, investors see potential

    Published in: Latest IntelligenceWhile Altai struggles to attract international investors, projects in its sister zone Primorye in the Russian Far East leap forward, with investors expressing full optimism in the region’s developmentHong Kong-listed NagaCorp has plans for a $350 million integrated resort, gaming and entertainment complex near the port city of Vladivostok. Meanwhile, Lawrence Ho is investing in two Russian gambling resorts worth $630 million as he expands his businesses overseas. Melco International Development and Summit Ascent Holdings, both backed by Ho, will buy a combined 51 percent stake in a holding company that will develop the two casino hotels.“The Russian government is fully supportive of building tourism for the region and we are excited and pleased to be a part of their overall development,” NagaCorp chairman Tim McNally told Asia Gambling Brief.Located in the Eastern tip of the Russian Federation the Primorye gaming zone “is an ecotourism attraction...

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