Vladivostok: Asia's next casino hotspot?
It may lack the vibrancy of Macao, or the modernity and sophistication of Singapore, but Russia is hoping to turn the city of Vladivostok into Asia’s latest casino hotspot.
Macao; Singapore; Vladivostok?
State-backed Nash Dom Primorya unveiled plans to transform a 6km² stretch of the city into an “Integrated Entertainment Zone” at the Global Gaming Expo in Macau today, in the hope of attracting private investment for the project.
Location, location, location
Although Vladivostok doesn’t have the most flattering of images – it’s mostly associated with gas and oil production, as well as being home to Russia’s Pacific Fleet – it does have geography on its side.
It’s significantly closer to Seoul, Tokyo and Beijing than either Macao
or Singapore, which its planners hope will result in an influx of gamblers from the region, especially cash-rich China.
The city has also been improving its infrastructure of late, including expanding its airport.
Up to $7bn a year
Although it’s early days as yet, Gaming Market Advisors estimates suggest annual revenue may be as much as $2-7 billion a year – potentially more than the $5 billion Singapore is currently making.
Nash Dom is hoping this will make the project appealing to many of the companies who have been investing heavily in Macao and Singapore, when tenders open in June.