Macau Daily Times – Macau-based Melco International Development Ltd. and the administration of Russia’s Primorye (maritime) Territory have signed an investment deal worth USD700 million to build a new casino resort in Russia’s Far East. Lawrence Ho, Chairman of the board of Melco, told Russian media that he “is very optimistic regarding the potential of the company in the Russian Far East.”
The intention of creating a new gambling resort in Russia had been announced in July. According to the Russian news agency RIA Novosti, expectations for the new development are set quite high, with the new integrated resort expected to create up to 1,600 new jobs and the overall gambling zone to create 20,000 posts.
Experts say that the flow of tourists to this far eastern region, near the Chinese border, will increase from 8 to 12 million people a year. But the head of the Institute of International Business and Economy at the Vladivostok State University of Economics and Service raised a doubt: “New jobs and investment are all very well, but will Asian neighbors come here when there is Macau?” Professor Aleksandr Latking told RIA Novosti ,“If all the promised investment is confirmed it will be a boon for the Russian economy,” but only time will tell “how much of the promised amount will reach the region.”
According to Primorye Governor Vladimir Miklushevsky, the development of the entertainment and gambling zone will give a new impetus to the region’s economy and will “make Maritime Territory an attractive destination for Asian tourists.”

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