A Primorsky Krai court has upheld a decision by the local government to terminate a construction contract with Kazan-based developer, Royal Time Group, for a $215m integrated casino resort in the Primorye Integrated Entertainment Zone.
According to Betting Business Russia, the Arbitration Court of Primorsky Territory made the decision on 1 June, while also ordering Royal Time to pay RUB12,000 ($211) in court costs.
After beginning construction in March of 2016, Royal Time Group had reportedly hoped to launch its Phoenix/Firebird resort later this year, with the casino part of the development offering around 500 slots along with 30 gaming tables.
But continual delays that saw the firm unable to set a concrete opening date. This uncertainty prompted the local government to publicly chastise the company in March regarding its inability to stick to a previously-agreed development schedule, with officials taking the decision to call time on the contract with Royal Time’s Primorye subsidiary the following month.
Beyond Primorye, Royal Time currently operates the Oracul casino in Russia’s Azov-City gaming zone, but all casinos in this zone have been ordered to cease operations by the end of December 2018.
In April, the Office of the Altai Territory on Russia’s southern border with Kazakhstan issue a statement reaffirming that Royal Time had signed an investment agreement in 2014 to launch a casino in the territory’s Siberian Coin gaming zone.
The terms of this agreement require Royal Time to complete four “multifunctional entertainment complexes” by 1 May 2019.