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Russia’s Tigre de Cristal casino focuses more on working class gamblers
The Tigre de Cristal casino, located in Primorye gaming zone in Russia, is relying more on modest class customers for the majority of revenues than on VIP gamblers.
Summit Ascent Holdings, the Hong Kong-listed company that has a majority stake in Tigre de Cristal, reported a 2% increase year-on-year to HK$207.8m (US$26.5m) for the first quarter. But the adjusted earnings surged by 17% to HK$66.8m and overall profit increased to HK$2.6m from a loss of HK$5.4m in H1 2017.
The profit came even after the casino’s VIP gambling turnover decreased by 22.5% year-on-year to HK$6.5b in H1. The gross win was also down by 38.2% to HK$189m as win rate fell 0.74 points to 2.9%. After deducting VIP rebates, net VIP win was down 44.5% to HK$41m. It’s worth noting that the casino’s average number of VIP tables fell to 12 from 16 in H1 2017.
Summit Ascent Holdings said the slowdown in VIP revenues was anticipated. The casino had refused to succumb to the “increasing pressure” from VIP customers who demanded higher levels of rebates. The casino said no such requests and focused on developing its own ‘premium mass’ business.The casino’s mass market numbers appear to support this strategy, as mass table drop rose more than one-third to HK$348m and net win spiked 47.3% to HK$84m.
The slots business, which primarily caters to a local clientele, reported handle up 44.4% to HK$1.35b but a lower win rate kept slots revenue’s gain to 27% (HK$66m).
Tigre de Cristal’s average hotel occupancy was largely unchanged year-on-year at 76% on the weekends but just 45% on weekdays. Still, hotel revenue fell 22% to HK$17m due to fewer high-rolling clients.
Summit says it’s encouraged by the Primorye region’s rising foreign tourist visitation, which is growing at an annual rate of 33% over the past five years. At the end of H1, there were 50% more direct flights to the region than one year ago.
Summit says, it is currently refining the design and construction requirements of Tigre de Cristal’s Phase II, construction of which is expected to commence next spring with a targeted opening in “the latter half of 2020.” Phase II originally targeted a late-2019 opening but delays stemmed from alterations in financing and design options following “recent changes in substantial shareholders.”
Summit also says it is observed “an acceleration of building works” by other Primorye operators, including NagaCorp’s Naga Vladivostok and Diamond Fortune Holdings’ Selena project. Assuming these other operators continue at this accelerated pace, Summit says it may start to see the benefits of a “cluster effect” of casinos as early as 2021.
Source: calvinayre.com
Source: Latest News on European Gaming Media Network
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Spinosaurus – The Thrilling New Slot Game from PopOK Gaming
PopOK Gaming is thrilled to announce the release of its newest slot game, Spinosaurus – a captivating 3×5 slot that transports players back to the thrilling age of dinosaurs!
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The post Spinosaurus – The Thrilling New Slot Game from PopOK Gaming appeared first on European Gaming Industry News.
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Evoplay expands Italian footprint through strategic partnership with Domusbet
Evoplay, the award-winning game development studio, has taken its content live with Domusbet, further strengthening its presence in the Italian market.
The integration features 32 of Evoplay’s premium slot titles, including Budai Reels Bonus Buy, Hot Volcano, and The Greatest Catch Bonus Buy that have proven popular with local players.
Renowned for its innovative approach, Evoplay’s titles aim to enhance player retention and engagement, providing a distinct competitive advantage to operator partners in the Italian market.
Domusbet offers a premium online casino in Italy and with a growing customer base, the collaboration sees Evoplay reach a new audience in the country where it has been live for several years.
The partnership reaffirms Evoplay’s commitment to becoming a leading supplier to the global iGaming industry and follows a number of prominent commercial deals that have seen the studio expand its reach in key markets.
Ihor Zarechnyi, CBDO at Evoplay, said: “Partnering with Domusbet is an exciting opportunity for Evoplay as we expand in Italy.
“Domusbet shares our commitment to quality and player satisfaction, making this a natural fit. We’re delighted to bring our games to a new audience and look forward to a successful collaboration.”
Francesco Di Paola, President of Domusbet, added: “We are excited to bring Evoplay’s cutting-edge games to our online casino.
“This collaboration reflects Domusbet’s commitment to providing our players with top-quality entertainment and an innovative gaming experience. With Evoplay’s popular titles now available, we’re confident our players will find a new level of engagement and excitement on Domusbet.”
The post Evoplay expands Italian footprint through strategic partnership with Domusbet appeared first on European Gaming Industry News.
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BETFRED LAUNCH NEW STUDIO AND LIVE PRESENTERS FOR EXCLUSIVE NUMBERS GAME
Bookmaker Betfred have launched a brand-new studio and live presenters for their exclusive numbers game ‘Nifty 50.’
The ‘Nifty 50’ is a fixed odds numbers game featuring five live draws a day with a jackpot of 5 million pounds for every draw.
The exclusive product now has a new hi-tech purpose-built studio at their head office in Birchwood, Warrington. The new studio is part of a major refurbishment project at Betfred’s headquarters.
Plus, for the relaunch Betfred have employed two new presenters Joshua Littlehales and Grace Constantinou.
Joshua Littlehales who has worked for Tameside Radio and LADbible said, “The new studio looks amazing, and I feel impressed each time I step inside. I feel excited to call it my professional home.”
Grace Constantinou who is a Media and Performance graduate from Salford University added, “I saw the studio when it was dust and walls and now to see it completed its very impressive.”
Betfred boss Fred Done said, “The whole idea behind Nifty 50 is for customers to win big for small stakes, and to now promote it with a purpose-built studio and live presenters I am delighted.”
Betfred commissioned Paul Sudlow to be the production designer, he came in with a wealth of experience having recently worked on ITV’s Euro 2024 studio in Berlin and the Rugby Union World Cup in 2023.
The screens and lights were provided by Whitelight based in Wimbledon while Monkey Scene provided the set construction.
The exclusive Nifty Fifty draw can be viewed five times a day in Betfred’s shops, online and at youtube with BetfredLotto.
The post BETFRED LAUNCH NEW STUDIO AND LIVE PRESENTERS FOR EXCLUSIVE NUMBERS GAME appeared first on European Gaming Industry News.
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