RUSSIA

Russian casino Tigre de Cristal expects 250% VIP revenue growth

According to Union Gaming Securities Asia Ltd, the Tigre de Cristal casino resort can generate 59.7 billion Hong Kong dollars ($ 7.61 billion) in 2020 from VIP operations. Forecasts for 2019 are less optimistic – 17.2 billion Hong Kong dollars ($ 2.19 billion).

Experts say one of the main reasons for such a huge jump is due to the Suncity Group’s recent acquisition of approximately 24.68% equity interest in Summit Ascent Holdings limited, which operates the Tigre de Cristal casino. Suncity is considered one of the leading companies specializing in attracting clients of the VIP segment offering special offers for high rollers and VIP players.

“While we had expected Suncity’s initial small stake in Summit Ascent to result in a material VIP uptick, the more-aggressive acquisition of shares, and the Deputy Chairman’s role, suggest to us that VIP volume will increase much more significantly than had been anticipated,”  Union Gaming’s analyst Grant Govertsen said.

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