• 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

Russia casino scheme on schedule: NagaCorp chairman

Oct 12, 2016 Newsdesk Latest News, Rest of Asia, Top of the deck  


Russia casino scheme on schedule: NagaCorp chairman

Hong Kong-listed casino operator and developer NagaCorp Ltd says its scheme for a casino resort in the Russian Far East is “on schedule”.

“Russia is still going forward on schedule and we anticipate it [the project] would open in the summer of 2018,” Tim McNally, the chairman of NagaCorp, told GGRAsia.

The firm currently runs a single flagship property – NagaWorld – in Cambodia’s capital Phnom Penh.

The group is committed to expanding into Northeast Asia via the Primorye Integrated Entertainment Zone (IEZ), an economic development area near the Russian Pacific port of Vladivostok that the Russian government has earmarked for casino resorts.

NagaCorp broke ground on a casino resort in Russia at the end of May 2015. The firm had previously stated – following the autumn 2013 announcement of its Russian investment agreement – that its resort would have 100 gaming tables, 500 electronic machines and a large theatre facility to accommodate 2,000 people, as well as entertainment offerings such as a karaoke complex and spas.

A first-phase cost for the Primorye scheme of between US$50 million and US$70 million had been mentioned in previous commentary by the company.

Mr McNally told GGRAsia: “In Russia… we are completing the pilings process; and the construction crews – China Harbour Engineering [Co Ltd] – are on location and they are going to proceed with construction.”

The above ground building stage was imminent, he added.

“It took us some time just to work through the standard local building requirements in Primorsky province. We now have all the permits that are required, and we are actually in the building phase. Right now we are pretty much on schedule,” said Mr McNally.

The first and currently only casino venue to operate in the Primorye IEZ is Tigre de Cristal, which had its official opening in November 2015.

On August 31, Summit Ascent Holdings Ltd – a company controlled by casino entrepreneur Lawrence Ho Yau Lung, and which is also the lead developer of Tigre de Cristal – said it had swung to a profit in the first half of 2016.

NagaCorp announced two weeks ago it would not proceed to the final bid stage regarding a casino licence on offer in the Republic of Cyprus.

A consortium involving Asian casino investor and developer Melco International Development Ltd, also led by Lawrence Ho, submitted a final-stage bid for the single casino licence in Cyprus.


  • tweet
Related articles
  • Casino op NagaCorp repurchases fraction 2024 senior notes
    Casino op NagaCorp repurchases fraction...

    Aug 15, 2022  

  • Summit Ascent flags 1H revenue up 37pct, return to profit
    Summit Ascent flags 1H revenue up...

    Aug 15, 2022  

More news
  • 99pct fall in Macau visitors in Covid-hit July: govt
    99pct fall in Macau visitors in...

    Aug 18, 2022  

  • Galaxy Ent 2Q EBITDA dips 41pct sequentially, 1H loss
    Galaxy Ent 2Q EBITDA dips 41pct...

    Aug 18, 2022  


Latest News

99pct fall in Macau visitors in Covid-hit July: govt

99pct fall in Macau visitors in Covid-hit July: govt

Aug 18, 2022  

Visitor arrivals to Macau in July fell 98.8 percent year-on-year, due to what the government called “the lingering impacts of the coronavirus pandemic”. The July tally of 9,759 was down 97.4...
Read More
Galaxy Ent 2Q EBITDA dips 41pct sequentially, 1H loss

Galaxy Ent 2Q EBITDA dips 41pct sequentially, 1H loss

Aug 18, 2022  

GEN HK liquidators considering offers on Manila venue stake

GEN HK liquidators considering offers on Manila venue stake

Aug 18, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

"We warn the cross-border gambling crime suspects to stop their criminal acts, to return to the country, and turn themselves in so that they could still be granted lenient treatment"

Wang Wenbin

Spokesman from China’s Ministry of Foreign Affairs



Most Popular

  • China restates action on overseas-bet fugitivesChina restates action on overseas-bet fugitives August 17, 2022
  • David Chow exits board of casino services biz Macau LegendDavid Chow exits board of casino services biz Macau Legend August 17, 2022
  • Singapore’s Gambling Regulatory Authority inauguratedSingapore’s Gambling Regulatory Authority inaugurated August 16, 2022
  • Macau govt names members of new casino-policy committeeMacau govt names members of new casino-policy committee August 17, 2022
  • Macau drops professional secrecy override from junket billMacau drops professional secrecy override from junket bill August 16, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us