Russia Wants In On The Booming Asian Gambling Market

Published Friday, July 13, 2012 -

The port city of Vladivostok in the far reaches of Russia’s vast lands will if palns come to fruition become a centre for gambling and entertainment. The area known for its rugged mountainous terrain and wildlife is destined to be the next destination for gamblers from around the world. Russia’s Primorsky Territory is the region bordering China, Korea and the Sea of Japan has been designated a casino zone of considerable size.

The district will be influenced by its proximity to the largest potential gambling market on the planet, Asia. By 2016 this area could be rivaling the casinos of Singapore and Macau bringing in revenues from every corner of the gaming world. Developer Nash Dom Primorye which is wholly owned by the Russian government says it wants operators to bid on the project by the September 21 2012 deadline. Incentives for operators include incredible first up leases on the properties as well as zero taxes on gross gambling revenues. These incentives are expected to bring proposals in quickly because other areas in the Asian region such as Vietnam Thailand and the Philippines are not as generous with their proposals.

The Primorsky Territory is ideally situated just a few hours plane travel from Seoul Korea and Tokyo Japan and could if all investments are realized become an entertainment and gambling hub in Eastern Asia. The surrounding population base is massive giving the potential for the casino zone to be as attractive as Macau or even Las Vegas for conferences, tourism and sporting events. Potential income generation is estimated anywhere from $2 billion to $ 7 billion rivaling Singapore but really it is still nowhere near the income generated by casinos in Macau. After the fall of Communism in Russia, the Port of Vladivostok emerged as a commercial port with links to other eastern Russian ports as well as countries of the Far East. The city is home to the Russian Pacific Fleet and has a population of just under 600,000 inhabitants. There is also a fine beach where many Russians take their vacation.

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