Russian casino zone inks South Korean commitment
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The state-owned Primorsky Krai Development Corporation has signed a deal with South Korean company Plgen Holdings Company Limited to bring a $23.9 million casino resort to the Primorye Integrated Entertainment Resort zone.
The coming casino resort in Primorsky Krai is to be the first from a South Korean firm. It is expected to bring in up to $1 million a year to the local economy. The development is going to include a 100-room hotel and a large casino.
Shin Il Suk is the Chief Executive Officer of Plgen Holdings Company Limited. His company has already put together a team with experience in managing well-known gambling and entertainment complexes in South Korea and southeast Asia to oversee the construction and operation of the coming Russian casino resort.
Primorye Integrated Entertainment Resort zone is one of only five areas of Russia where casino gambling is permitted. It is already home to the 121-room Tigre de Cristal facility from Hong Kong-listed Summit Ascent Holdings Limited. The locality welcomed the $45 million first stage of the Shambala Casino in October 2020.
