Lawrence Ho is betting that the Primorye Entertainment Zone, in the far southeastern corner of Russia, will be the next big gambling hub, especially for Asian punters. Tigre de Cristal, developed by Ho’s Summit Ascent Holdings, is the first of 16 planned “super casinos” for the region. The integrated resort will open in September with 119 hotel rooms, 65 gaming tables and 800 slot machines.
According to the Macau Daily Times, the entertainment complex, which will occupy 1,500 acres, is expected to attract more than 10 million visitors each year and generate revenues of up to US$5.2 billion annually. More than US$2.2 billion has been invested in the zone by casino companies drawn by a liberal tax structure—3 percent to 7 percent will go to the Russian government, compared to 39 percent in Macau.
The Primorye and nearby Vladivostok are considered more Asian than Russian, and are located much closer than Macau to gamblers in Northern China, South Korea and Japan, the Times reported.
Other investors include Russian firms Diamond Fortune Holdings and Royal Time Group.