RUSSIA

South Korea’s Ramid Hotels shows interest in Primorye casino project

The South Korean company Ramid Hotels & Resorts has said it wants to build a golf course and casino in the Primorye gambling zone near Vladivostok.

The news follows a meeting between the Head of Primorye Oleg Kozhemyko and the company’s President Mun Beng Ha.

Governor Oleg Kozhemyako said the region was ‘ready to provide land plots’ for the project.

Governor Kozhemyako said:

“Mun Beng Ha said that they are considering building a golf course in Primorye, as well as a casino in the integrated resort area. A memorandum of understanding has already been prepared. In addition, the Korean company is ready to participate together with the Russian side in the development of legislative conditions for the development of this tourism business in Primorye. We have good relations with the Republic of Korea, many tourism projects are developing, including in the hotel business. We are ready to go forward and offer favorable conditions for both the maritime business and the Korean side.”

Ramid’s Korean portfolio includes large hotel complexes such as the Ramada Seoul Hotel, Ramada Songdo Hotel and Miranda Hotel Incheon and sprawling golf facilities such as Yangpyeong TPC Park.

Ramid is the third Korean company to consider investing in the Primorye region.

Dongnam Industry wants to build a golf course in the gambling zone and has signed an agreement with the regional authorities on its intention to spend 2bn rubles with a local partner; Vladivostok Country Club.
K International also has plans on the table for Primorye with a US$300m project.

The largest casino already in operation in the zone is Tigre de Cristal. Two others are nearing completion though with Naga Vladivostok being built by Naga Corp. and Selena Casino being built by Diamond Fortune Holdings.

Source: g3newswire.com

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