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BIGGEST GAMBLING INDUSTRY OPERATOR FROM SOUTH KOREA INTENDS TO INVEST IN THE INTEGRATED RESORT «PRIMORYE»

Publicated on the 17th of August, 2016

The largest gambling operator of South Korea intends to invest in the integrated entertainment resort «Primorye». Tigre de Cristal and Kangwon Land agreed to cooperate.

G1KangwonLand

 

The company «Summit Ascent Holdings Limited» - one of the participants of «G1 Entertainment», the owner of the largest casinos in Russia «Tigre de Cristal» - has signed a memorandum of understanding on cooperation with the «Kangwon Land. It is the largest profit operator of gambling in South Korea, as well as the operator of High1 Resort - the only integrated resort in a country where gambling is permitted for the citizens of the Republic.

The parties agreed on a strategic partnership, the most promising areas are the exchange of the casino staff, cooperation of travel agencies, as well as the organization of the cruise line and charter flights between Kangwon Land casino and Tigre de Cristal in Primorye.

In addition, according to the memorandum, the company «Kangwon Land» is ready to consider the possibility of investing in such objects of tourist infrastructure of the integrated entertainment resort «Primorye» as a hotel complex, a shopping mall with the possibility of placing a duty free shop and a golf club.

It should be noted that Tigre de Cristal casino and hotel is the first set, launched in the integrated entertainment resort «Primorye». The biggest casino in Russia since the opening in October, 2015 gas been attended by more than 100 thousand visitors.

The integrated resort is located in the Muravinaya Bay near Vladivostok. It is expected to build at the area of ​​619 hectares entertainment centers, casino, 21 hotels, 12 guest houses, a yacht club, ski slopes and other objects of tourist and recreational destination for all year round use.

In addition, the integrated entertainment resort «Primorye» could be a pilot project of Russia’s first free trade zone. The Russian government will consider the format of its implementation. According to the Governor of Primorye Vladimir Miklushevskiy, the creation of free trade zone in the resort area can greatly increase the efficiency of the project.

We remind that the anchor investors of the IERZ «Primorye» are «G1 Entertainment» together with Melco International Development Limited, a Malaysian company NagaCorp Ltd, «Royal Time Primorye» and «Diamond Fortune Holdings Prim». The total amount of signed investment contracts for the construction of hotels and casinos in IERZ«Primorye» exceeds 113 billion rubles.