The Tigre de Cristal casino resort in the Russian far east is set to enjoy strong growth in VIP rolling chip volumes over the next two years, says Union Gaming Securities Asia.
“As it relates to our forecasts for Tigre de Cristal, we expect monthly VIP volume to be approximately HKD2bn (US$257.8m) in the second half of 2016, HKD2.4bn in 2017 (19 per cent up year-on-year) and HKD2.8bn 2018 (up 17 per cent year-on-year),” analyst Grant Govertsen said.
He added: “These growth rates are broadly in line with what we’ve seen in other jurisdictions as their VIP programmes have ramped. We note that our 2018 VIP forecast results in Tigre de Cristal being around one per cent of Macau’s VIP market size (from 0.6 per cent in the second half of 2016).”
Tigre de Cristal began working with two fixed-room junket operators in late June and has seen a significant uptick in VIP play as a result, according to the casino promoter’s interim report published in September. Govertsen said that VIP monthly volumes at the property had almost tripled to HKD2bn since July.
