• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Friday 9 May 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

NagaCorp indefinitely suspends development of Vladivostok casino

Ben Blaschke by Ben Blaschke
Fri 4 Mar 2022 at 05:03
Russian Revolution

An artist’s impression of NagaCorp’s Primorye IR, designed by Steelman Partners.

83
SHARES
2.1k
VIEWS
Print Friendly, PDF & Email

NagaCorp, owner and operator of Cambodia’s NagaWorld in Phnom Penh, has announced the indefinite suspension of its gaming and resort development in Vladivostok, Russia.

In an update to shareholders, NagaCorp said overnight that it faces “various uncertainties in respect of the Group’s gaming and resort project in Vladivostok, Russia” and would therefore “like to invoke the force majeure clause set out in the investment agreement and suspend its performance thereunder.”

As a result, the company will “suspend the development of the project indefinitely until the circumstance is clearer.”

NagaCorp’s update does not outline the reasons for invoking the force majeure although it is almost certainly linked to Russia’s invasion of Ukraine and uncertainty over how this will impact tourism in the near future.

The Naga Vladivostok project was one of two casino resorts due to open in the Primorye Economic Zone near Vladivostok in 2022, alongside Diamond Fortune Holdings’ Imperial resort. They were to join the two casinos already in operation – Tigre de Cristal and Shambhala – as part of a local IR cluster.

Designed by Steelman Partners, NagaCorp’s development is planned to include a casino and concert hall within an 11-storey hotel complex, plus a water park.

RelatedPosts

Grand Korea Leisure extends casino closures until 15 February

Grand Korea Leisure’s casino revenues up to US$26 million in April

Thu 8 May 2025 at 07:03
Wynn Resorts Chairman says departing CEO Maddox keen to explore non-gaming career opportunities

Wynn wary of returning to Japan amid talk of second IR bidding round

Wed 7 May 2025 at 06:12
Macau government calculating foreign gaming revenue on a daily basis through EGTs, tracked chips

Low VIP hold, non-gaming decline sees operating revenues at Wynn’s Macau resorts fall 13% to US$866 million in 1Q25

Wed 7 May 2025 at 04:45
Wynn says UAE development contribution to total around US$900 million as Thailand opportunity looms large

Wynn’s “high-performance” culture, unique design approach to set UAE resort apart from other regional offerings

Mon 5 May 2025 at 16:28
Load More
Tags: casinoforce majeureintegrated resortNaga VladivostokNagaCorpPrimorye Economic ZoneRussiaVladivostok
Share33Share6
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Knife’s edge

Editorial – Knife’s edge

by Andrew W Scott and Ben Blaschke
Tue 29 Apr 2025 at 15:14

Thailand’s Entertainment Complex journey is at a critical point, with the success or failure of the initiative to be determined...

The changing face of Macau

The changing face of Macau

by Ben Blaschke
Tue 29 Apr 2025 at 15:09

Inside Asian Gaming takes a deep dive into the new, post-COVID Macau where a revenue environment that seems to be...

Born again

Born again

by Pierce Chan
Tue 29 Apr 2025 at 14:47

Premiering in September 2010 at City of Dreams, The House of Dancing Water was a visionary creation by artistic maestro...

Richard Howarth – Testing the limits

Richard Howarth – Testing the limits

by Ben Blaschke
Tue 29 Apr 2025 at 13:17

Richard Howarth, Chief Business Officer APAC for global testing laboratory GLI, discusses his career journey and his passion for fast-paced...

Evolution Asia
Aristocrat
GLI
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

Galaxy Macau to host 2025 Annual Conference of the FIA – world motorsport’s governing body

Favorable VIP hold pushes Galaxy Entertainment Group’s 1Q25 profit to US$412 million

by Ben Blaschke
Thu 8 May 2025 at 14:03

Macau’s Galaxy Entertainment Group (GEG) reported total net revenue of HK$11.2 billion in the first three months of 2025, including gross gaming revenue of HK$10.9 billion (US$1.36 billion) – up 13.6% year-on-year although slightly lower than the HK$11.0 billion (US$1.38...

Solutions Showcase: Angel – Tech Minded

Baccarat side bets now contribute close to 50% of Macau baccarat revenues

by Ben Blaschke
Thu 8 May 2025 at 13:32

Baccarat side bets now contribute between 45% and 50% of Macau’s gaming revenues, representing a generational shift in player preferences thanks to the deployment of smart gaming table technology. Stakeholders told IAG that such side bets previously comprised only a...

House of Dancing Water returns to City of Dreams Macau with spectacular premiere

House of Dancing Water returns to City of Dreams Macau with spectacular premiere

by Pierce Chan
Thu 8 May 2025 at 11:11

After a five-year hiatus, City of Dreams’ epic production House of Dancing Water held its premiere on Wednesday 7 May ahead of an official opening to the public on Friday. The newly reimagined resident show is produced by Giuliano Peparini,...

Grand Korea Leisure extends casino closures until 15 February

Grand Korea Leisure’s casino revenues up to US$26 million in April

by Newsdesk
Thu 8 May 2025 at 07:03

Foreigner-only casino operator Grand Korea Leisure reported casino revenue of KRW36.2 billion (US$25.9 million) in April, up 11.5% year-on-year but down 12.7% compared with March. GKL’s casino revenue comprised an 11.7 % year-on-year increase in table revenue to KRW32.9 billion...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English