NagaCorp has resumed construction of its Mayak Resort in the Primorye Krai Integrated Entertainment Zone, 50 kilometres from Vladivostok, after the project was halted in 2015 due to archaeological excavations on the site, Asia Times reported yesterday.
When finished, Mayak will be the first development to compete with Tigre de Cristal, an integrated resort owned by the Lawrence Ho Yau Lung-controlled Summit Ascent, which opened in Primorye in 2015. Unlike Tigre de Cristal, NagaCorp’s project will offer non-gaming facilities, such as a water park.
According to the publication, Mayak’s construction cost is estimated at some US$350 million and the project is expected to open in early 2019. The first phase will include a casino – host to some 300 slot machines and 30 table games – and a 279-room hotel.
Construction of the second phase of Tigre de Cristal, estimated at MOP500 million, is expected to begin in the second half of 2019, with 100 VIP tables, 70 mass market tables, and 500 slot machines.
The Macau gaming mogul’s Russian casino is reportedly the largest to date across the six zones where gambling has been allowed in Russia, since the government banned betting in major cities in 2009, Forbes reported.
The Chairman and CEO of Melco Resorts & Entertainment, Lawrence Ho Yau Lung, has donated RMB1.5 billion (US$217.50 million/MOP1.74billion) to fund the construction of a teaching complex in Hainan, the Guangnan Primary School, a company release made public yesterday.
“Over the years, Melco’s continuous efforts and innovative initiatives have offered children and young people opportunities to receive quality education, achieve full potential, and reach their dreams,” Ho was quoted as saying.
According to the release, Melco’s donation will be used to build a three-storey teaching complex to be named after the company, featuring facilities such as a library and a computer room.