• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Gambling in Crimea, Sochi no threat to Vladivostok: analyst

Jul 25, 2014 Newsdesk Latest News, Rest of Asia, Top of the deck  


Gambling in Crimea, Sochi no threat to Vladivostok: analyst

The two new gambling zones on the Black Sea coast approved by Russia will not divert investors from Vladivostok in the Russian Far East, a market that targets Chinese high rollers, Global Market Advisors LLC partner Steve Gallaway says.

Russia’s President Vladimir Putin signed a law on Wednesday allowing the establishment of gambling zones in Sochi (pictured) and Crimea, in a bid to boost their development with casino revenues.

“I do not see either one of these locations having any impact on Vladivostok,” Mr Gallaway told GGRAsia. “Vladivostok’s market is Asia, primarily northeast China. Sochi and Crimea’s market would primarily be Russia,” he added.

The newly-announced gambling zones in the west would be competing among themselves, and some cannibalisation “would likely occur”, said the industry consultant. “But it [cannibalisation] would be spread throughout the region to summer destinations with gaming [that are] popular to Russians, including Croatia, Greece and Montenegro,” said Mr Gallaway.

In Sochi, which in February hosted the Winter Olympics, casinos will be allowed in some areas of the former Olympic park.

“Adding a casino to the area would help boost tourism. In addition, as it is in a [politically] stable area, many regional gamers and tourists alike would feel comfortable visiting,” said Mr Gallaway.

In contrast, holiday travel to Crimea has been declining since Moscow annexed the peninsula from Ukraine in March, according to reports in the tourism trade press. “Even before it [tourism] faded, the demographics of the Crimean tourist did not lend themselves to a strong gaming profile,” said the GMA partner, adding that he does not expect “a casino of any significance” being built there.

Any casino built in that region would be much smaller in scale than those typically in Asia, and the Sochi and Crimea markets combined would be worth “significantly less” than Vladivostok’s potential, suggested Mr Gallaway.

GMA, which worked on a feasibility study for Vladivostok in 2012, estimates the gaming market there could generate more than US$1 billion in gambling revenue in its early stage and reach about US$5.2 billion in 10 years.


  • tweet
Related articles
  • Summit Ascent says Suntrust owes it US$6mln bond interest
    Summit Ascent says Suntrust owes it...

    Jan 17, 2023  

  • Macau mass market over 79pct of 4Q casino GGR: govt
    Macau mass market over 79pct of 4Q...

    Jan 16, 2023  

More news
  • Nearly 70k visitors to Macau on 6th day of CNY break
    Nearly 70k visitors to Macau on 6th day...

    Jan 27, 2023  

  • Monster Superlanche ups player fun, says Pragmatic Play
    Monster Superlanche ups player fun,...

    Jan 26, 2023  


Latest News

Nearly 70k visitors to Macau on 6th day of CNY break

Nearly 70k visitors to Macau on 6th day of CNY break

Jan 27, 2023  

Macau recorded 69,279 visitor arrivals on the sixth day of the Chinese New Year (CNY) holiday period, showed official data. The city welcomed about 384,600 visitors in the first six days of the...
Read More
Monster Superlanche ups player fun, says Pragmatic Play

Monster Superlanche ups player fun, says Pragmatic Play

Jan 26, 2023  

Cashless, process automation 2023 casino trend: JCM

Cashless, process automation 2023 casino trend: JCM

Jan 26, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”We are in very positive territory [in Macau] and keep moving upside”

Rob Goldstein

Chairman and chief executive of Las Vegas Sands



Most Popular

  • LVS flags strong recovery in Macau, capacity bottlenecksLVS flags strong recovery in Macau, capacity bottlenecks January 26, 2023
  • Macau visitor tally tops 318k in first 5 days of CNY breakMacau visitor tally tops 318k in first 5 days of CNY break January 26, 2023
  • CNY may deliver 50pct pre-Covid mass GGR in Macau: JPMCNY may deliver 50pct pre-Covid mass GGR in Macau: JPM January 25, 2023
  • 71pct of Sands China licence spend for venues says parent71pct of Sands China licence spend for venues says parent January 26, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us