Primorsky Krai Casino Visitor Increase By 19 Pct In 2022: Govt

According to local authorities, Russia's Far East Primorsky Krai gambling area welcomed more than 463,000 visitors last year. The Primorsky Krai JSC Development Corporation said in a news article on its official website that the figure was up 19.2% compared to 2021, despite "economic and geopolitical obstacles."

The figures represented an average of about 38,600 monthly visitors over the last year, the highest monthly tally recorded in October (total of 44,454).

The development agency said about 13% of visitors to the Primorsky Krai gambling center in 2022 were identified as foreign tourists, mainly from China (14,726) and South Korea (9,512).

There are currently two casino resorts in the gambling area of Primorsky Krai, a casino development area 50 kilometers (31 miles) from Russia's Pacific port of Vladivostok. The Tigre de Crystal property is mostly owned by Summit Ascent Holdings, a Hong Kong-listed company controlled by LET Group Holdings. The Shambala Casino Resort, run by a company called Shambala CJSC, was the second casino to open there.

Summit Ascent said Tigred Crystal's gaming business net profit rose 37.3% year-over-year to HK$340.9 million ($43.4 million) in 2022. However, the company noted that the Russia-Ukraine conflict continues "to create operational challenges for the group."

"Sanctions and travel advisories are still in place for the Russian Federation and international flights to major international destinations have not yet resumed," it added

Hong Kong-listed Naga Corp Ltd said in March last year it would "suspend" development of its gaming resort in Primorsky Krai, citing "uncertainty" over the project. At the time, the company did not comment on the Ukraine crisis or international sanctions against Russia, but investment analysts had suggested.

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