Tigre de Cristal, gaming entrepreneur Lawrence Ho Yau Lung’s casino market play in the Russian Far East, was holding its soft opening on Thursday as planned, a senior executive of the majority developer confirmed to GGRAsia.
No date for the official opening has yet been announced, but “late October” was mentioned in an August filing by the resort’s majority investor, Hong Kong-listed Summit Ascent Holdings Ltd.
Thursday’s soft launch involved the resort (pictured) inviting local officials and celebrities, and opening its doors to the public “at approximately 6.30pm local time,” Eric Landheer, Summit Ascent’s director of corporate finance and strategy, told GGRAsia.
“We will initially focus on mass and premium mass business and… we have had significant discussions with junkets from multiple jurisdictions,” added Mr Landheer.
The first phase of Tigre de Cristal has a capital budget of US$172 million and there is a commitment by Mr Ho and his partners to spend “up to” US$700 million in total, including a second phase currently scheduled to open in 2018.
The resort scheme is independent from Mr Ho’s casino investments in Macau and the Philippines done via Melco Crown Entertainment Ltd.
Phase 1 of Tigre de Cristal will have 42 mass-market tables, 25 VIP tables and 769 machines, Mr Landheer told GGRAsia in a September interview. Phase 2 will include a shopping mall, spa, nightclub, and conference and auditorium space.
Tigre de Cristal is the first to market of four casino resorts authorised for the Primorye Integrated Entertainment Zone – located 50 kilometres (31 miles) from Russia’s Pacific port of Vladivostok.
Jan 22, 2018Landing International Development Ltd, the promoter of the Jeju Shinhwa World resort on South Korea’s Jeju Island, is working to attract independent travellers from North and Southeast Asia via...
Jan 22, 2018
Jan 22, 2018
Dec 29, 2017It could be 2024 before a casino resort is opened in Japan,...
Dec 27, 2017The year 2017 could prove to have been a turning point in...
Oct 25, 2017The deployment of radio frequency identification (RFID)...
”We expect Goa to quickly become a US$1 billion market as it transitions to land-based casinos (from US$150 million today), which is still just a fraction of India’s total GGR potential of US$10 billion to US$17 billion”
Analyst at Union Gaming Securities Asia