Genting also interested in the development near Vladivostok

Melco Crown may prepare to invest in Russian gaming zone

Russian Federation
Reading time 50 seg
(Russia).- Gaming operator Melco Crown Entertainment may be gearing up to invest in Russia, Macau Business magazine reports in its August issue. The company, led by Lawrence Ho Yau Lung, has shown interest in investing in a new gaming and entertainment zone near Vladivostok.

Marina Lomakina, the general director of Nash Dom Primorye, a state-owned company that will manage the Vladivostok entertainment zone, confirmed Melco Crown’s interest to Macau Business. Malaysian Genting Group has also shown interest in the development, says Ms Lomakina.
Nash Dom Primorye issued a request for concepts last month, which invites gaming companies to submit ideas for the first phase of the development of the zone.

The deadline for submission of proposals is September 21. No proposals had been submitted by the middle of last month, according to Ms Lomakina. But she says prospective investors from Macau, Russia, Hong Kong and Singapore have shown interest in getting a foothold.

Melco Crown clinched a deal with Belle Corp last month to co-develop a casino resort in Manila called Belle Grande – its first venture outside of Macau. Belle’s vice-chairman, Willy V. Ocier, told Filipino newspaper BusinessWorld over the weekend that Melco Crown and his company would finalize the agreement “hopefully by the first week of September.”

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