Cambodian casino operator NagaCorp has once again rebranded its resort casino project in Russia’s far east Primorye region.
NagaCorp’s Primorye casino project began life as Naga Entertainment City, then switched to Mayak (Russian for ‘lighthouse’ or ‘beacon’). On Friday, Russia’s Interfax news agency quoted Andrew Folomeev, general director of the Development Corporation of the Primorsky Territory, saying NagaCorp’s project would now be known as Naga Vladivostok, reflecting the gaming zone’s proximity to the famous Russian port city.
NagaCorp has said it hopes to open its Primorye casino’s doors by the end of 2018, but Union Gaming Securities Asia analysts issued a note this week that suggested that “in all likelihood,” Naga’s project might not start welcoming gamblers “until at least second half 2019.” That will be welcome news for Lawrence Ho’s Tigre de Cristal, which is currently the only casino plying its trade in the Primorye zone, and will by late 2019 be likely be ready to open its Phase 2 to help fend off the new competition.
After a lengthy delay, Russian operator Diamond Fortune Holdings broke ground last month on its Selena project, while another Russian operator, Royal Time Group, had its Primorye contract ripped up by a local court in June after failing to adhere to specified development timelines.