No bidders yet for Primorye gaming zone land auction

Russia’s far east gaming zone outside Vladivostok appears to be having difficulty attracting bids on its undeveloped land plots.

In late August, the state-owned Development Corporation of the Primorsky Territory announced that it was extending the August 28 deadline for companies to submit applications to participate in the auction of subleases in the Primorye gaming zone. The delay was reportedly due to potential investors’ request for more time to get their paperwork in order.

The new deadline for applications was set for September 28 (this Thursday), but a Primorsky Krai Development spokesperson told GGRAsia on Monday that the firm had yet to receive any formal applications. The spokesperson claimed that “our headquarters are staying in touch with investors and companies,” including a Russian firm that is reportedly considering participating in the auction.

At present, there is only one functioning casino in Primorye – Lawrence Ho’s Tigre de Cristal – and the company has claimed that Russian laws requiring customers to first change their foreign currency into rubles before buying casino chips is one of the factors that puts off some high rollers from being willing to pick Primorye as a preferred gaming destination.