Since February 2022, the Russian continent has been at the heart of turmoil. Entering war against Ukraine, the country chaired by an iron fist by Vladimir Putin is currently experiencing a series of withdrawals with its economic partners. With the freezing and seizure of the funds of several oligrics (real estate, bank accounts, yachts, etc.), foreign investors are now cautious when it comes to doing business in Russia. While moreover, the Solidarity initiatives of the gaming world for Ukraine multiply, Russia decline in this area ...
Latest example, the group NagaCorp. This company specializing in Money games is one of the most profitable in the world and number one in the Mekong region. First Cambodian company to be listed on the Hong Kong Stock Exchange, Nagacorp actually contributes to the GDP of its country by developing multiple tourist projects and by attracting many foreign investors. She even has a football team, the Naga Corp FC, which evolves in the first Cambodian division. The management policy assumed by its founder and majority shareholder, Chen Lip Keong, consists in displaying transparency and compliance with the largest groups of global entertainment. This tactic has allowed the group to prosper for more than a decade and has given its shareholders, notable growth in their dividends.
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The Cambodian game giant Nagacorp suspends its casino project in Vladivostok
But recently, the Mekong company had to suspend the construction of a colossal project on Russian eastern lands. Vladivostok, known for being the most east city of Russia and also the terminus of the Trans -Siberian train, was to welcome a project of casino-hotel of eleven floors, named Naga Vladivostok. Before the recent events, this remote province had a full economic boom, because many investors have chosen to develop infrastructure linked to tourism and the game sector. Some experts said that this prymorie zone, was going to become the new las Russian vegas.
For this project, Nagacorp had already spent more than $ 80 million and the structures were almost ready to welcome tourists. But Russian territory is no longer considered "stable" currently, surely due to international sanctions taken against it. To justify itself, the Cambodian company said that if the conditions were favorable when launching the work, 5 years ago, they are no longer. In short, a rather vague explanation, knowing that millions of dollars had already been invested. No doubt, the game provider preferred to use a diplomatic tone so as not to taint relations between Russia and Cambodia.
As a reminder, the Naga Vladivostok , was to house a concert hall of 20,000 square meters, tourist infrastructure by the sea and a water park. The icing on the cake, the project, led by the architectural firm Steelman Partners, also had to integrate a hotel with 120 luxurious rooms and a structure called Crystal Tiger or the company Summit Asset Holdings has established its districts.
In view of the advancement of this immense resort, there is no doubt that another investor will resume the reindeer of the pharaonic project. Business Diamond Fortune Holding would be expected to play this role by 2023.
Crimea: the opening of the first casino of the Russian peninsula planned for 2022
Thousands of kilometers west of Vladivostok, Crimea province, annexed to Russia in 2014, is experiencing a more favorable situation.
Even if Vladimir Putin's policy is strict as to the developments of structures related to gambling in its territory, a certain tolerance has been effective for some time. Since a law passed in 2006 aimed at allow money games In some provinces, foreign investors see it as an opportunity to do business on these still virgin lands in the sector.
After the area of theAltai (southwest of Siberia), that of Primorye (Far East) and that of Kaliningrad (Between Poland and Lithuania), the Province of Crimea, located near the Black Sea, is added to this list. The place, which we can compare to a Saint-Tropez, is known to the Russians for its beaches and especially for its climate, much more lenient than in Irkutsk, for example ... an area conducive to tourism which would be well received by establishments of games to increase its attractiveness. The international community having firmly condemned this annexation at the time, it will be difficult to see investors in the Europe or the US zone. But the "friends" countries of Russia, such as Cambodia or China, will undoubtedly see new possibilities of expansion and commercial partnerships.
The lucky one is the village of Catsivivee. Close to the yalta seaside resort, The inauguration of the first Crimean Casino should be there in 2022. There remains a shadow on the table, accessibility to the site. Sébastopol Airport is located 73 km from Katsiveli and it will therefore be more difficult for tourists to go there. In addition, there are few hotel infrastructure that can accommodate a large number of visitors. It remains to be seen whether the Russian government will want to inject the funds necessary for the development of the tourism sector in this region.
