The Russian casino experienced a significant increase in its VIP gambling turnover during H1.
Russia.- Hong Kong-listed Summit Ascent Holdings Ltd released its report where its operations for the first six months of the year were detailed: Tigre de Cristal, the Primorye casino, saw its VIP gambling turnover double.
The operator said that gaming and hotel revenue increased one-fifth to US$26.1 million, whilst adjusted earnings also experienced a revenue rise by 62 percent to US$7.2 million, CalvinAyre reported. The company holds a 60 percent stake in Oriental Regent Ltd, the company that owns G1 Entertainment Ltd, the operator of Tigre de Cristal.
The casino’s turnover reached the US$1 billion mark during the first six months of the year, a 140 percent increase, whilst VIP revenue also increased 48 percent to US$10.1 million. VIP turnover totaled US$542 million, which is close to the record of the third quarter of 2016.
Konstantin Shestakov, head of tourism for Primorsky Krai in Russia said last month that the success of Tigre de Cristal, the first casino to open in the new gaming zone, is a good indicator for companies that are looking to invest in the territory. Largely thanks to the casino, the passenger number flown to Primorsky Territoy rose by 30 percent in 2016 and that’s also shown by the casino’s revenues, that were increased by foreign tourists by 95 percent.