It’s getting crowded in Vladivostok.
Taiwanese gaming supplier Firich Enterprises plans to spend US$24.7 million for a 19 percent stake in Lawrence Ho’s proposed resort casino near Vladivostok, Russia.
English-language Macau Business Daily reports that Firich will provide the property with electronic gaming machines tailored for the Russian mass market and will assist it with player development in Taiwan and South Korea.
Ho is co-chairman of Macau casino giant Melco Crown Entertainment, but is making the investment separately through companies he controls as part of a joint venture with a local developer called Elegant City, which will hold 30 percent of the project’s equity.
Ho is reported to be paying US$66.3 million for 51 percent through a Hong Kong-based investment vehicle called Oriental Regent, of which Hong Kong-listed Melco International Development will hold 5 percent and another listed entity, Summit Ascent Holdings, will hold 46 percent.
Meanwhile, NagaCorp, the Cambodia operator, announced it would spend more than $350 million to build a casino resort near Vladivostok with 1,000 hotel suites, 100 gambling tables, 500 slot machines and conference, dining and entertainment facilities. The company said it would establish a local presence to obtain a gaming license and begin construction in time for a 2018 debut.