NagaCorp Casino in Vladivostok Comes Soon

NagaCorp Vladivostok Casino Ready For Opening in 2021

March 28, 2020 TamaraTam

One of the stable casino operators, NagaCorp Ltd, has issued a report confirming its plans for opening a casino venue in a Vladivostok location. According to the company’s plans, the venue will not be completed until 2021 and will provide the local community with additional entertainment. The operator has also announced its stability regarding the current revenues.

About the Project

Chairman of the Hong Kong firm, Tim McNally unveiled:

“We anticipate that our Vladivostok project will open in the summer of 2021.”

The brand-new casino will be based in the Primorye Integrated Entertainment Zone in Primorsky Krai, close to the Russian Pacific harbor of Vladivostok.

According to the original plans, the casino opening has been planned for the end of 2020. However, the venue will have to wait some time due to several delays as well as the spread of Covid-19.

McNally added:

“Based on the current state of development, our gaming, and resort development project in Vladivostok, Russia remains broadly on schedule.”

Current Plans

NagaCorp chairman is positive about the future of the casino project. He has already noticed significant progress in the preparatory phase and decided to order regular monitoring of the project. He said:

“Certain key personnel have been appointed to monitor various aspects of the progress of the project. The group believes that its strategy to diversify its business geographically and expand into new casino markets will drive revenue growth in the long term.”

Last year was more than positive for the operator. However, the beginning of 2020 saw a lot of challenges for NagaCorp and there are already some rumors about a financial decline. The current situation with coronavirus will certainly lead to a reduction in profits and additional postponement of the Vladivostok casino.

NagaCorp’s officials has confirmed the “abrupt and open-ended freeze-out” of the worldwide economy. The executives believe that Covid-19 will affect the finalization of the project and cause financial problems over the next six months. However, they believe that “this event will be short-lived.”

About:

Founded in 1995, NagaCorp is one of the leading gambling companies with a 40-year-long casino license. The company is known for being listed on the Hong Kong Stock Exchange (“HKSE”). NagaCorp holds a leading hotel in the state – NagaWorld, located in the center of Phnom Penh City, close to the airport. The hotel is famous for its huge capacity including 700 rooms and excellent food outlets. NagaWorld stands out with an amazing casino offer, featuring 84 gaming tables and 2,250 electronic gaming machines. The Cambodian company is active not only in the gambling sector but s humanitarian activities and the private sector.

Source:

“NagaCorp Vladivostok casino now set to open in 2021“, calvinayre.com, March 24, 2020.