Summit Ascent, Holdings Ltd – a Hong Kong-listed firm controlled by casino entrepreneur Lawrence Ho Yau Lung – may have to cough up US$500 for the development of the second phase of Tigre de Cristal casino resort in the Russian Far East.

This was revealed by no less than Craig Ballantyne, executive director of G1 Entertainment LLC, the firm developing the project, who said that the phase 2 will include additional hotel rooms, shops, conference facilities and restaurants, according GGRAsia.

Ballantyne also estimated that the construction project, with a total area of 100,000 square metres (1.08 million sq feet), will generate around 2,000 jobs. His comments were reportedly featured in Primorsky Krai Development Corp’s official website, which was written in Russian.

Primorsky Krai is a state-owned firm responsible for the development of the Primorye Integrated Entertainment Zone, a casino development area located 50 kilometres (31 miles) from Russia’s Pacific port of Vladivostok.