• 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

Russian firm Diamond Fortune flags Primorye progress

Jun 20, 2017 Newsdesk Latest News, Rest of Asia, Top of the deck  


Russian firm Diamond Fortune flags Primorye progress

Ground preparation for Russia-based Diamond Fortune Holdings Ltd’s first casino resort in the Primorye Integrated Entertainment Zone is under way.

That is according to a Monday news report published on the official website of the Primorsky Krai Development Corp, a government-owned company overseeing the development of the Primorye Integrated Entertainment Zone. The latter is a casino development area located 50 kilometres (31 miles) from Russia’s Pacific port of Vladivostok.

The website quoted an official from Diamond Fortune stating the firm planned to open the first stage of the project – named Selena World Resort and Casino (pictured in an artist’s rendering) – in 2019.

The development’s initial stage will include a hotel and a casino with capacity for at least 100 gaming tables and 500 slot machines. Once all phases are completed, the property will have additional accommodation and gaming, as wells as shops, a spa and restaurants.

Privately-held Diamond Fortune was established in 2010. The firm previously announced it planned to develop a total of four projects in the Primorye Integrated Entertainment Zone.

Four licences have so far been granted by the authorities for casino resort developments in Primorye.

Tigre de Cristal was the first gaming property to enter the market in Primorye in October 2015. The venue – majority owned by Summit Ascent Holdings Ltd, a wholly-owned entity of Asian casino investor Lawrence Ho Yau Lung – is currently the only casino in operation in the integrated entertainment zone.

Hong Kong-listed casino operator and developer NagaCorp Ltd is also investing in a casino resort in Primorye. NagaCorp said in its 2016 annual report in March that the project was “broadly on schedule for operation by 2019”.

Beside Diamond Fortune, another Russian group has pledged to invest in Primorye. Royal Time LLC has plans to build a so-called integrated resort in the zone, with the working title ‘Phoenix’. The project has been marred by reported delays and legal disputes.

Brokerage Daiwa Securities Group Inc said in a March report it expected gross gaming revenue from mass-market table games in Primorye to show a compound annual growth of 115 percent in the period 2016 to 2020, “reaching US$335 million in 2020”. The brokerage added this was likely to be driven by “the area’s proximity and accessibility to the underserved North Asian region, as well as a recovering domestic economy resulting in a rising affluence in Russia”.


  • tweet
Related articles
  • LET Group flags 2022 loss of US$52mln, Hoiana repays loan
    LET Group flags 2022 loss of US$52mln,...

    Mar 20, 2023  

  • Summit Ascent flags return to profit for 2022
    Summit Ascent flags return to profit...

    Mar 15, 2023  

More news
  • APE narrows annual loss as revenue up 38pct
    APE narrows annual loss as revenue up...

    Mar 28, 2023  

  • Foreigners can use HK-Macau free ticket says tourism boss
    Foreigners can use HK-Macau free ticket...

    Mar 27, 2023  


Latest News

APE narrows annual loss as revenue up 38pct

APE narrows annual loss as revenue up 38pct

Mar 28, 2023  

Hong Kong-listed Asia Pioneer Entertainment Holdings Ltd (APE) reported revenue of just above HKD10.5 million (US$1.3 million) for full-year 2022, up 37.7 percent from the prior year. The firm...
Read More
Foreigners can use HK-Macau free ticket says tourism boss

Foreigners can use HK-Macau free ticket says tourism boss

Mar 27, 2023  

Raffles hotel checks complete at Galaxy Phase 3: MGTO

Raffles hotel checks complete at Galaxy Phase 3: MGTO

Mar 27, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”The data and evidence on hand all point to the same conclusion: enough is enough. It is time to ban offshore gaming operations in the Philippines, once and for all”

Sherwin Gatchalian

Chairman of the Committee on Ways and Means of the Senate of the Philippines



Most Popular

  • Melco’s Studio City has foreigner-only bet zone: checksMelco’s Studio City has foreigner-only bet zone: checks March 27, 2023
  • Raffles hotel checks complete at Galaxy Phase 3: MGTORaffles hotel checks complete at Galaxy Phase 3: MGTO March 27, 2023
  • Macau diversification into non-gaming to remain slow: FitchMacau diversification into non-gaming to remain slow: Fitch March 24, 2023
  • Philippine lawmaker wants POGOs shut within 3 monthsPhilippine lawmaker wants POGOs shut within 3 months March 27, 2023
  • Foreigners can use HK-Macau free ticket says tourism bossForeigners can use HK-Macau free ticket says tourism boss March 27, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us