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Caesars not in a mood to enter Russian market | 29th Nov 2012 : WorldCasinoYellowPages

Caesars not in a mood to enter Russian market

... 29 November 2012

Caesars not in a mood to enter Russian market

It has been completely exposed by Caesars Entertainment that at present they don’t have any proposals to go into one of the hottest gambling regions of Asia in Eastern Russia. As per statement given by the director of corporate communications of Caesars named Gary Thompson, the company is regularly observing the upcoming markets. However, at present the company has no proposals to go into the Vladivostok bazaars.

Major casino companies across the globe such as Melco Crown Entertainment, Las Vegas Sands Corp, Wynn Resorts and Galaxy Entertainment were asked for their comments on the issue. However, only Caesars firm responded on the matter. Therefore, it can be concluded that only Russian companies may be constructing foremost resort in the region.

The fresh casino developments of Russia are among one of the four distant regions set up since implementation of 2007 rule on 1st July, 2009. At present, Primorye in the Far East of the country is the location which casino companies are looking forward for casino construction. In case, government of Russia is intended at it, then it would apparently be a smart move by it. Although, gaming is a remote activity for which the region is crafted to accommodate as per opinion of the local politicians.

As per statement given by the governor of the zone, Vladimir Miklushevsky, the gambling area is similar to a support and not that much significant. The profit returns from the gambling area contribute about 30-40% of the total income which comes from tourism incomes in the current tourism trade. The remaining proportion is contributed by additional resources including entertainment parks and shopping malls.

The production of one casino and hotel has been started by now in the region. The companies such as Caesars are just resting on their place to observe the disparaging of the region. Ultimately, the zone expects to lodge around 17 casinos and the one which has already been put into construction must accomplish it by 2015.

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