Good morning. Tigre de Cristal in the Primorsky Krai gambling zone in Russia has seen its revenue return to pre-Covid levels, if not better, due to strong support from the local market. In today’s Face-to-Face interview, Stelios Tsifetakis, chief operations officer of G1 Entertainment, which operates the resort, explains how the property has reconfigured its gambling floors to suit the tastes of the local market while the borders are closed.
What you need to know
- Las Vegas Sands CEO Rob Goldstein says he sees “no chance whatsoever” of not getting another gaming license in Macau and said the company is ready and willing to invest more.
- Crown Resorts was given a second rap by investors over its plans to pay millions to departing executives, although it survived a spillover motion that would have ousted the entire board.
- Victoria lifted its coronavirus lockdown on Friday, allowing locals to leave home without an essential reason and to travel without limits, though Melbourne’s Crown Casino remains closed.
- Australia is in the final stages of concluding a quarantine-travel bubble agreement with the Singapore government.
- A panel of gaming analysts, academics and lawyers on Thursday said there could be an increase in gaming taxes in Macau which would be used to offset the shortfall in VIP revenue.
On the radar
- Crown Perth saw a 9% drop in gaming revenue in 3 months to mid-Oct.
- Melco and Galaxy announced their vaccination milestones.
- Lasseters Hotel Casino is set for a A$100m makeover from its new owners.
- Macau visitor arrivals rose 53.7% in Sept on eased entry requirements.
What the papers say
- Indian police charge group protesting against the reopening of Goa’s casinos, poker tournament
AGB Intelligence
FACE TO FACE
Local demand powers Tigre de Cristal revenue to pre-pandemic levels
Tigre de Cristal in the Primorsky Krai gambling zone in Russia has seen its revenue return to pre-Covid levels, if not better, due to strong support from the local market. Stelios Tsifetakis, chief operations officer of G1 Entertainment, which operates the resort, explains how the property has reconfigured its gambling floors to suit the tastes of the local market while the borders are closed. He also looks to the future and expects strong demand once international travel resumes, with the zone having the potential to become one of Asia’s premier travel destinations.
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