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June 14, 2021

Three investors from Moscow, one has "Spanish roots"

Four developers interested in Crimea casino project - media

Four developers interested in Crimea casino project - media
Following last week’s revelation that SJM Holdings and Summit Ascent Holdings were not interested in opening a casino in Crimea, the local government is now reportedly in talks with an unidentified developer that wants to invest up to $150 million on a
Russia | 10/19/2016

Following last week’s revelation that SJM Holdings and Summit Ascent Holdings were not interested in opening a casino in Crimea, the local government is now reportedly in talks with an unidentified developer that wants to invest up to $150 million on a project for Russia’s newest gambling zone.

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ccording to a report from Asia Gaming Brief citing a Betting Business Russia, the news means that four entities are now interested in developing a casino for the former Ukrainian territory with three being registered in Moscow while the fourth has “Spanish roots”.

“There is a major investor who is willing to invest in the project from $120 million to $150 million,” said an unidentified source close to the negotiation process cited by Betting Business Russia.

“He intends to rent all the areas allocated for the gaming zone to sublet them to other investors wishing to participate in the project”

Moscow approved Crimea as its newest gambling zone in June while Asia Gaming Brief reported the source as stating that the latest mystery investor’s core activities involve construction.

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