“As Crimea became part of Russia and the authorities clearly intended to set up a game zone there, interest in it increased”

The source added, however, that before Russia’s illegal merger, companies belonging to the Hojok failed to pursue negotiations with Ukraine due to high geopolitical risks, which has seen the Korean Peninsula in Eastern Europe as an opportunity to invest.

The carrier’s request for comment was not responded by either SJM Holdings or Summit Accent Holdings, while the former affiliate Melco Crown Entertainment, led by Lawrence Ho and his Australian billionaire partner James Packer, declined comment. The Treasury or Peninsular authorities in the Republic of Crimea could not provide further information on the status of negotiations between them and the two investment holding companies.

Meanwhile, the government will issue, renew, and cancel a gambling license from the Crimean Treasury in December this year, and according to a state-run media announcement in August, construction of the Crimean gambling house, which the government licensed in June, will begin next year.

Investments in Primorsky Krai, another gaming zone in the Russian Far East, have already been made by Summit Accent Holdings in partnership with Melco International Development. However, the sources say companies’ investment in the Crimean region could reach $1 billion, and investment in Primorsky could reach $2 billion due to its location in China and the low attraction of tourists

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