Cambodia casino company goes Vladivostok
Cambodian casino operator NagaCorp Ltd. plans to partner with Macau casino tycoon Lawrence Ho to open a casino in Vladivostok near the Chinese border at an investment of $350 million in an aim to lure wealthy Asian players.
NagaCorp said on September 9 it agreed to invest in the casino resort venture on the outskirts of the Russian port city, with at least 1,000 hotel suites, 100 gambling tables, 500 slot machines and conference, dining and entertainment facilities, the Wall Street Journal reported.
NagaCorp’s project in Vladivostok will take several years, and details of the venture are still unclear. The company, which has a monopoly casino license in the Cambodian capital of Phnom Penh, said the resort may not begin operations until 2018. NagaCorp said it would establish a local unit to apply for a casino license and that it expects it will take as long as two years to obtain the necessary construction permits.
However, NagaCorp’s project is not the only casino in the region. North Korea in 1999 has opened the notorious Emperor Hotel & Casino in the Rason Special Economic Zone near the Russian border and adjacent to the three northeast provinces of China. The casino resort is owned by Hong Kong businessman Albert Yeung.
NagaCorp’s casino aims at attracting Chinese high-rollers, who already have transformed Macau into the world’s largest gambling market. The Chinese territory’s $38 billion in gambling revenue last year was six times that of the Las Vegas Strip.
Cambodian casino operator NagaCorp Ltd. plans to partner with Macau casino tycoon Lawrence Ho to open a casino in Vladivostok near the Chinese border at an investment of $350 million in an aim to lure wealthy Asian players. NagaCorp said on September 9 it agreed to invest in the casino resort venture on the outskirts of the Russian port city, with at least 1,000 hotel suites, 100 gambling tables, 500 slot machines and conference, dining and entertainment facilities, the Wall Street Journal reported. NagaCorp’s project in Vladivostok will take several years, and details of the venture are still unclear. The...
Cambodian casino operator NagaCorp Ltd. plans to partner with Macau casino tycoon Lawrence Ho to open a casino in Vladivostok near the Chinese border at an investment of $350 million in an aim to lure wealthy Asian players.
NagaCorp said on September 9 it agreed to invest in the casino resort venture on the outskirts of the Russian port city, with at least 1,000 hotel suites, 100 gambling tables, 500 slot machines and conference, dining and entertainment facilities, the Wall Street Journal reported.
NagaCorp’s project in Vladivostok will take several years, and details of the venture are still unclear. The company, which has a monopoly casino license in the Cambodian capital of Phnom Penh, said the resort may not begin operations until 2018. NagaCorp said it would establish a local unit to apply for a casino license and that it expects it will take as long as two years to obtain the necessary construction permits.
However, NagaCorp’s project is not the only casino in the region. North Korea in 1999 has opened the notorious Emperor Hotel & Casino in the Rason Special Economic Zone near the Russian border and adjacent to the three northeast provinces of China. The casino resort is owned by Hong Kong businessman Albert Yeung.
NagaCorp’s casino aims at attracting Chinese high-rollers, who already have transformed Macau into the world’s largest gambling market. The Chinese territory’s $38 billion in gambling revenue last year was six times that of the Las Vegas Strip.
