Summit Ascent Holdings has released a business update on its Tigre de Cristal property in Russia’s Primorye gambling zone, pointing out that revenue was back at pre-pandemic levels, or better.
The Hong Kong-listed operator put out a statement following an Asia Gaming Brief interview with Stylianos Tsifetakis, the chief operations officer of the resort, in last Friday’s Face-to-Face series.
In the interview, Tsifetakis outlined how Covid had forced the group to rework its marketing strategy to focus on the Russian market. As a result, Tigre de Cristal has enjoyed strong local support for its offerings.
“We never stop remodelling Tigre de Cristal to keep it up,” he told AGB. “This year we introduced a number of different slot machines to enhance our product offering. Gaming tax in Russia has also been reduced because of COVID, we have more slot machines on the floor. We see positive responses from the people and we can see that month-on-month, our revenues are growing to pre-COVID levels, if not; better. This is 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.”
Tsifetakis also said Tigre de Cristal has been receiving strong requests for information from markets such as Taiwan, South Korea and Japan and he expects a strong rebound once borders reopen.
