After last month revealing that its Tigre De Cristal casino resort had generated gaming taxes of over $8 million during its first year of operation, operator G1 Entertainment has now reportedly declared that it is ready to spend up to $500 million on a second phase for the development in Russia’s Primorsky Krai region.
According to a report from GGRAsia, the revelation came from Craig Ballantyne, Executive Director for G1 Entertainment, while he explained that the 1.08 million sq ft second phase is set to open in 2018 offering a four-star hotel with 300 rooms alongside a 200-room five-star counterpart.
Ballantyne additionally stated that the second phase of the Russian project, which is to feature approximately 500 additional slots as well as 100 VIP gaming tables, would generate around 2,000 new jobs.
G1 Entertainment is owned by Oriental Regent Limited, which is controlled by Hong Kong-listed Summit Ascent Holdings Limited and its majority shareholder Lawrence Ho Yau Lung, and earlier revealed that the entire Tigre De Cristal development is expected to offer up to 1,300 slots alongside 125 VIP and 110 mass-market gaming tables.
Tigre De Cristal has enjoyed a monopoly since opening in October of 2015 some 24 miles north of the port city of Vladivostok and this situation is expected to continue until at least 2018 when the $900 million Selena World Resort And Casino from operator Diamond Fortune Holdings opens for business closely followed by NagaCorp Limited with its $350 million Seaside Entertainment Resorts City.