Poker News – The 2014 Winter Olympics are underway in Sochi, Russia, but the action might heat up even more in the Eurasia nation come 2018.

NagaCorp Ltd. has invested roughly $350 million in Russia, and the casino operator plans to start building a gaming resort in the western part of the country as early as 2015. The company plans to cater to their most popular customers from South Korea, Japan, and Northeast China.

The resort property is scheduled to open in 2018, and will resemble the bird-nest national stadium built for the 2008 Olympic Games in Beijing, while the architecture will resemble London’s.

“The Russian government has been working closely with us on issues such as visa upon arrivals from the airport and approvals on land permits,” Chairman Tim McNally said.

NagaCorp is teaming up with Macau tycoon Lawrence Ho on the project. Macau’s recent success has regions like Russia, Philippines, and Vietnam buzzing, and several companies are doing their best to emulate the former Portuguese colony. McNally says that NagaCorp, which owns a 70-year exclusive deal to operate casinos in the Cambodian capital of Phnom Penh, is also interested in building casino resorts in Thailand and Myanmar.

The company reported a 25-percent growth in gross gaming revenue in 2013. Net profits increase by 24 percent to $140.3 million, and is accredited to higher business volume from both the Mass and VIP markets. The company’s stock on the Hong Kong market is selling at $6.28 per share, a 16% increase from 2013.

In March, NagaCorp introduced an incentive program for its overseas junket operators, enabling the company to raise existing table limits while also managing volatility and credit risk.

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