Russia to revive fortunes of far east 1


Las Vegas, Macao, Monte Carlo, yes. But Vladivostok? In less than a month the first casino opens in a massive new gambling complex on the far end of Siberia. 



Russia’s latest attempts to develop the country’s far east includes opening massive gambling complex in Vladivostok. Eastern part of Russia is rich in resources but poor in people. The new investment projects, including the casino, are Moscow’s plan to change that. To encourage investors, the government is offering visa exemptions and generous tax benefits.


One of the world’s biggest gambling investors has already made his bet: Macao gambling tycoon Lawrence Ho is the main investor behind Tigre de Cristal. “We are the biggest corporate investor in Primorsky Krai,” says director for corporate finance and strategy at Summit Ascent, Eric Landheer. He adds that “We are investing $500 million in the first phase, and our investment will eventually rise to $900 million.”





Source: Yogonet
Date: September 15, 2015
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