The number of visitors to the Primorye gambling zone grew by around 50,000 year-on-year.<\/p>\n\n\n\n\n\n\n\n
Russia.- The Development Corporation of Primorsky Region JSC <\/strong>has reported that the Primorye gambling zone in Russia\u2019s far east received close to 365,500 visitors in the first quarter of the year. The figure was up by around 50,000 people in year-on-year terms.<\/p>\n\n\n\n The highest number of arrivals was recorded in June (62,000)<\/strong>. Some 14 per cent were identified as foreign tourists, primarily from Uzbekistan and Asia-Pacific countries.<\/p>\n\n\n\n There are currently two casinos in the Primorye Gambling Zone. Summit Ascent\u2019s Tigre de Cristal <\/strong>opened in 2015. It was followed almost five years later by Shambhala<\/a>, which opened at the height of the Covid-19 pandemic. <\/p>\n\n\n\n In August, shareholders of\u00a0LET Group Holdings<\/strong> agreed to sell Russian assets including the Tigre de Cristal casino resort<\/a>. The proposed minimum sale price for G1 Entertainment, the entity managing Tigre de Cristal, is US$92.8m. That\u2019s 80 per cent of the proposed price when\u00a0LET Group attempted to sell<\/a> to\u00a0Dalnevostochny Aktiv<\/strong>,who later pulled out of that deal, leading to the resignation of most directors of LET Group and Summit Ascent.<\/p>\n\n\n\n LET Group Holdings<\/strong> has announced that\u00a0Bennie Kwok Kai Bun<\/strong>\u00a0has stepped down as an independent non-executive director to devote more time to his other pursuits and family commitments. It said there was no disagreement with the board.<\/p>\n\n\n\n Kwok Kai Bun\u2019s exit follows the resignations of Tou Kin Chuen<\/strong> and John Lo Wa<\/strong>i on November 5. It\u2019s the second time in less than a year that LET Group\u2019s board has been reduced to Lo alone. In January, five out of six directors resigned<\/a> in opposition to the failed sale of the Tigre de Cristal casino<\/a> in Russia. <\/p>\n","protected":false},"excerpt":{"rendered":" The number of visitors to the Primorye gambling zone grew by around 50,000 year-on-year.<\/p>\n","protected":false},"author":176,"featured_media":32940,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Primorye gambling zone in Russia reported a significant year-on-year increase in Q1 visitors, reaching nearly 365,500, with foreign tourists primarily from Asia-Pacific. Concurrently, LET Group Holdings is proceeding with the sale of its Russian assets, including the Tigre de Cristal casino, for US$92.8m, amidst ongoing corporate governance challenges marked by multiple board resignations following a prior failed divestment attempt.","focusai_entities":"Development Corporation of Primorsky Region JSC, Summit Ascent, Tigre de Cristal, Shambhala, LET Group Holdings, G1 Entertainment, Dalnevostochny Aktiv, Bennie Kwok Kai Bun, Tou Kin Chuen, John Lo Wai","focusai_location":"Russia, Primorye, Uzbekistan, Asia-Pacific","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Primorye GGR Outlook?","query":"What is the projected Gross Gaming Revenue (GGR) impact of the increased visitor numbers in the Primorye gambling zone, considering the current operational capacity and geopolitical factors?"},{"label":"LET Group Divestment Risks?","query":"What are the specific corporate governance and capital markets risks associated with LET Group Holdings' ongoing divestment of G1 Entertainment, particularly given the prior failed sale and board instability?"}],"footnotes":""},"categories":[28,16331],"tags":[23907],"class_list":["post-777020960","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-elsewhere-news","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020960","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=777020960"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020960\/revisions"}],"predecessor-version":[{"id":777020973,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020960\/revisions\/777020973"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/32940"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777020960"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777020960"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777020960"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Bennie Kwok Kai Bun steps down as independent non-executive director of LET Group<\/h2>\n\n\n\n