{"id":23894,"date":"2021-10-26T08:22:26","date_gmt":"2021-10-26T11:22:26","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=23894"},"modified":"2026-04-23T14:28:01","modified_gmt":"2026-04-23T17:28:01","slug":"tigre-de-cristal-revenue-surpasses-pre-pandemic-levels","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/tigre-de-cristal-revenue-surpasses-pre-pandemic-levels","title":{"rendered":"Tigre de Cristal revenue surpasses pre-pandemic levels"},"content":{"rendered":"\n<p>Summit Ascent Holdings has said that Tigre de Cristal\u2019s revenue has benefited from a shift to the local market.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Russia.-\u00a0<strong>Stylianos Tsifetakis<\/strong>, chief operating officer at <strong>Tigre de Cristal<\/strong>, has revealed that the casino&#8217;s revenue has been growing month on month and has even surpassed pre-pandemic levels.<\/p>\n\n\n\n<p><strong>Summit Ascent\u2019s Tigre de Cristal opened to the public in 2015.<\/strong>\u00a0It was followed almost five years later by\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/russias-shambala-casino-to-open-on-friday\">Shambhala<\/a>, which opened at the height of the Covid-19 pandemic. The casino operator has been adapting to cater to the local Russian market, launching marketing campaigns to attract locals rather than foreign tourists.<\/p>\n\n\n\n<p>Due to this shift,\u00a0<strong>Tsifetakis said staycation demand from Russians<\/strong>\u00a0had led to almost full capacity in recent months.<\/p>\n\n\n\n<p>Through a statement, Tsifetakis said: &#8220;This a very positive news for us, taking into consideration that currently there is a second casino in the area. Instead of losing market share; on the contrary, we are gaining more market share, which we view as very successful.\u201d<\/p>\n\n\n\n<p>In August,\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/summit-ascent-posts-35-rise-in-revenue-for-h1\">Summit Ascent Holdings<\/a>\u00a0shared its financial results for the first half of 2021, posting<strong>\u00a0revenue of HK$129.5m (US$16.6m)<\/strong>. Gross gaming revenue (GGR) amounted to HK$139.1m, up 9.4 per cent year-on-year, although\u00a0<strong>the company didn\u2019t register revenue from the VIP segment<\/strong>\u00a0due to the Covid-19 pandemic.<\/p>\n\n\n\n<p>The&nbsp;<strong>mass-table segment was up 92 per cent&nbsp;<\/strong>to HK$68.5m and slot-machine revenue 70.2 per cent to HK$70.6m due to growth in the domestic market.<\/p>\n\n\n\n<p>As regards Tigre de Cristal Phase II, Tsifetakis said it will include different non-gaming amenities and when finished the total number of hotel rooms will triple that of today to over 400. However, he didn&#8217;t share an exact date for the opening of the development.<\/p>\n\n\n\n<p>In April, it was revealed the target launch of&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/tigre-de-cristal-phase-ii-opening-delayed-until-2023\" rel=\"noreferrer noopener\">Tigre de Cristal Phase II<\/a>&nbsp;was&nbsp;<strong>postponed to 2023&nbsp;<\/strong>owing to several delays due to the Covid-19 pandemic.<\/p>\n\n\n\n<p>He finally predicted that by 2025, &#8220;IEZ Primorye will become a fully-fledged Asian integrated resort destination because by then other competitors would have already come on board in IEZ Primorye, plus, Tigre de Cristal Phase II would have been in full-swing operations.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Summit Ascent Holdings has said that Tigre de Cristal\u2019s revenue has benefited from a shift to the local market.<\/p>\n","protected":false},"author":176,"featured_media":22706,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Summit Ascent Holdings' Tigre de Cristal casino has reported revenue surpassing pre-pandemic levels, driven by a successful strategic pivot to the local Russian market. Gross Gaming Revenue (GGR) increased 9.4% year-on-year in H1 2021, primarily from mass-table and slot segments, despite the absence of VIP revenue. The company is also progressing with Tigre de Cristal Phase II, targeting a 2023 launch to enhance non-gaming amenities and expand accommodation capacity.","focusai_entities":"Summit Ascent Holdings, Tigre de Cristal, Stylianos Tsifetakis, Shambhala","focusai_location":"Russia, IEZ Primorye","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (1.0), marketing_crm (0.9), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Market Share Dynamics?","query":"What specific strategies did Tigre de Cristal implement to gain market share against Shambhala, and how sustainable is this local market dominance given future competition in IEZ Primorye?"},{"label":"Phase II ROI Projections?","query":"Given the postponement of Tigre de Cristal Phase II to 2023, what are the updated capital expenditure projections and anticipated return on investment, particularly concerning the non-gaming amenities and expanded hotel capacity?"}],"footnotes":""},"categories":[28,16331],"tags":[23701,22436],"class_list":["post-23894","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-elsewhere-news","tag-summit-ascent","tag-tigre-de-cristal"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23894","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=23894"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23894\/revisions"}],"predecessor-version":[{"id":23903,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23894\/revisions\/23903"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/22706"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=23894"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=23894"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=23894"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}