The boss for Asian real estate firm Suncity Group Holdings Limited has reportedly announced that his privately-owned junket business will very shortly begin welcoming punters to a new VIP gaming room within eastern Russia’s Tigre de Cristal casino.
According to a report from Inside Asian Gaming, Alvin Chau serves as Chairman for the Hong Kong-listed company and last year orchestrated an arrangement that saw it acquire a 27.94% stake in the operator behind the gambling-friendly property located some 30 miles north of Vladivostok, Summit Ascent Holdings Limited.
Chau reportedly told the source that the high-roller gaming set-up is one of a number of coming improvements for the Russian casino that have been designed ‘to attract and retain our discerning clientele.’ He purportedly also proclaimed that the operation is to be run by his own Suncity Group junket arm and ‘will welcome VIP guests soon.’
Reportedly read a statement from Chau…
“Later this year we expect to add approximately 30 hotel rooms through an extension to the existing property, thereby mitigating our shortage of rooms on peak weekend times and expanding our lodging capacity by approximately 25%. In addition, a new private club, a new hot-pot section in the Pan-Asian restaurant and a stand-alone noodle bar are being added to the property’s amenities.”
Chau moreover detailed that Tigre de Cristal had recorded a 15% year-on-year increase in 2019 gaming revenues to just over $62.18 million courtesy of improved slot revenues and higher rolling chip margins. The executive purportedly furthermore explained that the venue’s annual adjusted earnings before interest, tax, depreciation and amortization had risen by some 18% to about $27.69 million with its profit surpassing $10.57 million, which was considerably better than the previous year’s finishing tally of slightly beyond $980,000.
Chau additionally stated that Tigre de Cristal had experienced a 12% boost year-on-year in VIP win from its selection of 22 gaming tables to approximately $15.73 million with slot handle advancing by a comparable 19% to bring in win of $23.98 million. He purportedly likewise itemized a 7.3% comparable improvement in mass table drop for the twelve-month period to $96.84 million with associated net win of $22.43 million.
Reportedly read the statement from Chau…
“We are proud that the company managed to post its second consecutive year of profit growth and our majority-owned operating property maintained positive earnings before interest, tax, depreciation and amortization expansion during this period of transition. We will continue to enhance the non-gaming offerings at Tigre de Cristal in order to further attract player volumes and drive higher-value rolling chip business to the property.”