Korean firms eye Primorye zone

Three firms from South Korea are eyeing projects in the Primorye gambling zone in Russia’s far east, with Summit Ascent, the region’s only existing operator, predicting benefits from a “cluster effect” by 2021. The zone is considered the most viable of Russia’s gambling regions due to its close proximity to the North Asian markets, in particular Northern China. Tourism numbers have been increasing at about 33 percent a year for the past five years, helped by improved connectivity and an easing of visa restrictions for Chinese visitors. There were 50 percent more direct flights operating in the first half of last year than in the same period of 2017. Ramid Hotels & Resorts, which has a portfolio of large hotel complexes, such as the Ramada Seoul Hotel, in January reaffirmed its interest in building a golf course and a casino in the zone. The company’s president, Mun Ben-Uk, said at the time:...

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