During the meeting, the management of the Primorsky Krai Development Corporation with the Tigre de Cristal casino operators discussed plans for the development of the entertainment sector in the integrated resort «Primorye». One of the main objects may become the largest shopping mall in the Russian Far East.
Chief Executive of the «G1 Entertainment» Stylianos Tsifetakis told the investors of the first casino are preparing to implement the second stage of the Tigre de Cristal.
«We want to do more than we have done already. Our high management sees a perspective in the development of the non-gaming sector and plans to create more entertainment facilities within the framework of the second phase of construction. In our opinion, this will be useful both for the development of the gambling zone, and for the social and economic development of the entire region. We plan that in the summer of this year the design plan of our new entertainment complex will be finally approved and we will be able to present it to the leadership of Primorsky Territory», Mr. Tsifetakis said during the meeting.
According to the previously announced information, the second phase of the project development will include 500 rooms of different levels, areas for negotiations, as well as restaurants and bars. The second stage of Tigre de Cristal will give more than 2 000 additional jobs.
Mr. Tsifetakis noted that within the framework of the second stage, it’s planned to expand the trade, and also improvement of the sites for sporting events is also being considered.
«We are considering the possibility of creating a golf club and a ski resort. These are the kinds of entertainment that will allow you to relax at the resort "Primorye" all year round. In addition, our new Taiwan shareholder plans to create one of the largest shopping centers in the Far East located in the IER Primorye. He has already launched successfully the work of nineteen shopping centers in the territory of mainland China and sees the prospective for the development of this direction in the Primorsky Territory», Mr. Tsifetakis said.
According to him, the decision to create a large-scale shopping area was influenced not only by the prospect of great demand, but also by the possibility of introducing a duty-free trade zone in the Primorsky Kray where foreign citizens can receive a tax deduction. Recall that in accordance with the proposal of the Department of Tourism of Primorye, the list of the Ministry of Industry and Trade of Russia included nine major retail outlets located in Artem and Vladivostok, including the entertainment complex Tigre de Cristal.
Igor Trofimov, interim general director of the Primorsky Krai Development Corporation (PKDC), believes the development of the non-gaming sector within the integrated resort Primorye will bring at least two significant advantages.
«The main thing is a significant increase of the tax revenues volume to the budget. If you look at the articles on tax revenues provided for investors working in the gambling business, it is clear that a 20% profit tax is paid, but not from the gambling industry, but from the activities of hotels, restaurants, bars and entertainment facilities. Thus, due to the development of the non-gaming sector, namely the transformation of the gambling zone into an integrated entertainment resort, the economic effect of the project implementation will be increased. In addition, the development of the project in this way will increase the recognition of Primorsky Krai in the international tourism market», the head of the Corporation believes.
At the moment on the territory of the gambling area in addition to the existing complex with the casino is the creation of two large gambling and entertainment facilities: a hotel complex with a water park and casino «Naga Vladivostok» (Cambodian company Naga Corp Ltd.) and a hotel complex with a casino «Selena» (a group of Russian companies, Diamond Fortune Holdings Ltd.). The construction will be completed by the end of 2019. It is also worth noting that four investment sites remain vacant for sublease for the implementation of new tourist facilities.
According to the Head of the Department of Tourism of Primorsky Territory Konstantin Shestakov, the creation of new world-class infrastructure in the region is one of the key terms for the development of the tourism industry of Primorsky region.