Scientific Game

Oriental Regent enjoys VIP boost

Tuesday, 04 April 2017 00:55
Visit us

By Ben Blaschke

Oriental Regent Ltd, the casino and integrated resort arm of Hong Kong investment company Summit Ascent, has announced adjusted EBITDA of HK$132 million and net profit of HK$559,000 for 2016 on the back of a huge upswing in rolling chip volume at its Tigre de Cristal resort in Vladivostok.

2016 represented the first full year of operations for Tigre de Cristal, the region’s first integrated resort which targets VIP players from Northeast Asia. Rolling chip turnover for the year came in at HK$14.1 billion of which HK$10.6 billion was generated in the second half.

That HK$10.6 billion also represented an increase of 1,762% year-on-year from HK$570 million in 2H15, although VIP gaming was only introduced on 11 November that year. VIP gross gaming revenue came in at HK$380 million for the second half of 2016 with mass table GGR at around HK$63 million, up 86% year-on-year.

Construction on Phase II of Tigre de Cristal is currently underway and will add another 1.08 million square feet of resort space to the property when open in 2018, including an extra 100 VIP gaming tables, 70 mass market tables and 500 slot machines.

Summit Ascent is also anticipating that relaxed visa rules and the implementation of free e-visas for Far East visitors will help attract more tourists from northern China, Japan and Korea.

“Management remains optimistic about the prospects of further ramp-up of the business in light of the recent announcement by the Primorsky Government that a much simplified visa regime will be implemented in the summer of 2017,” it said in an announcement.

What's new

VIDEO: MGS Entertainment Show 2017

VIDEO: MGS Entertainment Show 2017 Inside Asian Gaming takes a visual look back at the highlights of MGS Entertainment Show 2017, held at the Venetian Macao from 14 to 16 November. Tuesday, 21 November 2017 07:21

China Star cites unfriendly operating environment for Hotel Lan Kwai Fong sale

China Star cites unfriendly operating environment for Hotel Lan Kwai Fong sale China Star Entertainment Limited has flagged government regulatory policies and expected “uphill challenges in the near future” as the primary reasons for selling Hotel Lan Kwai Fong, which is expected to be purchased by Golden Dragon group boss and former member of the Legislative Assembly, Cha... Tuesday, 21 November 2017 07:08
Macau press association accepted into International Federation of Journalists The Macau Portuguese and English Press Association (AIPIM) has been informed by the Secretariat of the International Federation of Journalists (IFJ) that it has been accepted as associate member of the International Federation of Journalists (IFJ) during a meeting of IFJ's Executive Committee, held ... Tuesday, 21 November 2017 06:33

Better late than never as The Venetian Macao celebrates 10 years

Better late than never as The Venetian Macao celebrates 10 years The Venetian Macao celebrated its 10th anniversary on Monday with a ceremony overlooking the outdoor lagoon and a gala dinner attended by officials from the Chinese Central and Macau governments. But it was forced to do so without Chairman and CEO Sheldon Adelson following a fall that saw him fract... Tuesday, 21 November 2017 06:09

Current Issue

Guiding light

Guiding light Mr Jay Chun, Chairman of MGS Entertainment Show organizer the Macau Gaming Equipment Manufacturers Association (MGEMA), discusses the birth of the MGEMA and how it plans to help shape Macau’s future ahead of the 5th anniversary of MGS. By Ben Blaschke       Ben Blaschke: The MGS Entertainm... Thursday, 26 October 2017 15:35

Macau satellite casinos: the more the merrier?

Macau satellite casinos: the more the merrier? MdME’s Rui Pinto Proença looks at the recent flurry of satellite casinos entering the Macau market and their apparent flouting of the “2008 Moratorium.”  By Rui Pinto Proenç As we enter the final stretch of 2017, it is clear that Macau will end the year with no additions to its portfolio ... Thursday, 26 October 2017 15:33

NOkada Manila

NOkada Manila Japan’s Universal Entertainment ousted founder Kazuo Okada earlier this year, prompting questions about the future of the integrated resort bearing his name and the company’s Japan casino ambitions. By Muhammad Cohen | Editor-at-Large After years of controversy, it all seemed to be coming toge... Thursday, 26 October 2017 15:31

Macau city brand strategy

Macau city brand strategy Professor Glenn McCartney explains the importance of developing a unique city brand strategy and why it can help Macau achieve true diversification when it comes to tourist appeal. By Professor Glenn McCartney The brand strategy of a city – from its vision and goals to the level of engagement wi... Thursday, 26 October 2017 15:27