agreed in 2013 to invest a minimum of US$350 million in the Naga Vladivostok complex, which would be built on land with dual frontage and commanding views of the sea and an inland lake flanked by two hills...
In 2016, site clearing began, and an office was established in Vladivostok's city centre...
As of September 2021, NagaCorp had reportedly invested US$84 million in the Naga Vladivostok facility as part of the first stage of construction, which included a four-star hotel with 279 rooms, a casino, and a multipurpose concert hall with 2,000 seats。。。
NagaCorp had predicted that Naga Vladivostok would open in 2022, joining the two other casinos in the region, the Shambhala and Tigre de Cristal. All of these projects are part of the Primorye Economic Zone, a special economic zone designated for the development and operation of integrated resorts。。。
In a filing to the Hong Kong stock exchange on Thursday (March 3) NagaCorp stated that, in the best interests of the company and its shareholders, it is surrounded by various uncertainties regarding its gaming and resort project in Vladivostok, and that it would like to invoke the force majeure clause in the investment agreement and suspend its performance thereunder