Connect with us
SOFTSWISS

Latest News

Russia’s Tigre de Cristal casino focuses more on working class gamblers

Published

on

Russia’s Tigre de Cristal casino focuses more on working class gamblers
Reading Time: 2 minutes

The Tigre de Cristal casino, located in Primorye gaming zone in Russia, is relying more on modest class customers for the majority of revenues than on VIP gamblers.

Summit Ascent Holdings, the Hong Kong-listed company that has a majority stake in Tigre de Cristal, reported a 2% increase year-on-year to HK$207.8m (US$26.5m) for the first quarter. But the adjusted earnings surged by 17% to HK$66.8m and overall profit increased to HK$2.6m from a loss of HK$5.4m in H1 2017.

The profit came even after the casino’s VIP gambling turnover decreased by 22.5% year-on-year to HK$6.5b in H1. The gross win was also down by 38.2% to HK$189m as win rate fell 0.74 points to 2.9%. After deducting VIP rebates, net VIP win was down 44.5% to HK$41m. It’s worth noting that the casino’s average number of VIP tables fell to 12 from 16 in H1 2017.

Summit Ascent Holdings said the slowdown in VIP revenues was anticipated. The casino had refused to succumb to the “increasing pressure” from VIP customers who demanded higher levels of rebates. The casino said no such requests and focused on developing its own ‘premium mass’ business.The casino’s mass market numbers appear to support this strategy, as mass table drop rose more than one-third to HK$348m and net win spiked 47.3% to HK$84m.

The slots business, which primarily caters to a local clientele, reported handle up 44.4% to HK$1.35b but a lower win rate kept slots revenue’s gain to 27% (HK$66m).

Tigre de Cristal’s average hotel occupancy was largely unchanged year-on-year at 76% on the weekends but just 45% on weekdays. Still, hotel revenue fell 22% to HK$17m due to fewer high-rolling clients.

Summit says it’s encouraged by the Primorye region’s rising foreign tourist visitation, which is growing at an annual rate of 33% over the past five years. At the end of H1, there were 50% more direct flights to the region than one year ago.

Summit says, it is currently refining the design and construction requirements of Tigre de Cristal’s Phase II, construction of which is expected to commence next spring with a targeted opening in “the latter half of 2020.” Phase II originally targeted a late-2019 opening but delays stemmed from alterations in financing and design options following “recent changes in substantial shareholders.”

Summit also says it is observed “an acceleration of building works” by other Primorye operators, including NagaCorp’s Naga Vladivostok and Diamond Fortune Holdings’ Selena project. Assuming these other operators continue at this accelerated pace, Summit says it may start to see the benefits of a “cluster effect” of casinos as early as 2021.

 

Source: calvinayre.com

Continue Reading
Advertisement




MARE BALTICUM Gaming & TECH Summit 2024

Latest News

SPIN INTO A WORLD OF MYSTERY AND FORTUNE WITH SPIN 2 RICHES™

Published

on

Reading Time: < 1 minute

 Inspired Entertainment, Inc. (“Inspired” or the “Company”) (NASDAQ: INSE) a leading B2B provider of gaming content, systems, and solutions is thrilled to announce its latest slot game, Spin 2 Riches™, now available the UK B3/LBO market. Offering players an unparalleled gaming experience filled with mystery symbols and Fortune Spins. Spin 2 Riches invites players to embark on a thrilling adventure where every spin brings the promise of untold riches.

In Spin 2 Riches, players can activate the Mystery symbol by playing at the max stake of £2. Watch in anticipation as the Mystery symbol appears, revealing a random symbol that could pave the way for even more significant wins. But the excitement doesn’t end there – prepare to be captivated by Fortune Spins. Land three Fortune Spin symbols on the centre win line to unlock Fortune Spins across four-reel sets, offering an alternative to the base game and presenting players with two thrilling options: 1 in 10 or 1 in 20 chances to win big.

Spin 2 Riches is now available in retail, ready to captive players with its immersive gameplay and thrilling awards.

Richard Terry, UK Market Product director said: “Spin 2 Riches is set to be a great addition to the ever-expanding B3 top Inspired titles. With its vibrant theme, exciting Mystery symbol mechanic and the addition of Inspired’s phenomenal resonantly branded Fortune Spins™, players are sure to enjoy an entertaining experience

Continue Reading

Latest News

OpenBet Powers Record-Breaking 100,000+ Peak Bets per Minute at Grand National 2024

Published

on

OpenBet Powers Record-Breaking 100,000+ Peak Bets per Minute at Grand National 2024
Reading Time: < 1 minute

 

Provider’s robust engine processed 397 million account transactions during top horse racing festival

OpenBet, a leading content, platform and service provider to the sports betting industry, has reported impressive results at this year’s Grand National Festival, processing 101,000 peak bets per minute, which represents an increase of 21% year-on-year.

The 2024 edition of the iconic race held at Aintree saw jockey Paul Townend secure his first Grand National win with joint-favourite I Am Maximus. During the horse racing festival, OpenBet’s robust betting engine powered the account transactions for market-leading operators such as William Hill, Entain and Flutter, delivering a seamless betting experience for their customers.

Despite a reduced field size of 34 runners during the flagship race, betting interest remained extremely high across the three-day festival, which remains one of the busiest horse races of the year.

 

Significant highlights across OpenBet’s customers included:

  • 101,000 peak bets per minute (BPM), 21% increase vs 2023
  • 3,000 peak bets per second, 34% increase vs 2023
  • 397 million account transactions, 3% increase vs 2023
  • Average Win and Each Way stake was £5.42
  • 100% uptime

Florian Diederichsen, CTO at OpenBet, said: “We continue to deliver record-breaking results at OpenBet, across some of the world’s major sporting events.

“This year, the Grand National continued to attract extraordinary levels of bettors. With an average win and each way stake being £5.42, any downtime would have risked £100,000s of lost turnover. However, our operator partners were able to deliver a seamless betting experience for the historical event with the support of our highly experienced team, and industry-leading technology. We look forward to delivering even more success during the summer of sport ahead.”

Continue Reading

Latest News

Push Gaming’s DJ Cat Spins the Discs and the Reels

Published

on

Reading Time: < 1 minute

 

B2B gaming supplier Push Gaming has released the second in its series of DJ games, DJ Cat, which brings a range of new features to amp up engagement.

Following the success of DJ Fox, this new follow-up retains the easy-to-understand, win-what-you-see gameplay, adding in larger win multipliers.

Lining up CD symbols helps players to build big prizes while VIP icons grant access to spin the decks and feed the Multiplier Meter. Arrow symbols crank the volume and unlock more reels using the iconic Push-Up feature.

Following a growing trend within iGaming, DJ Cat omits a bonus feature and instead is designed to deliver volatile gameplay throughout the title.

DJ Cat is the first second-quarter release from Push Gaming and launches ahead of much anticipated upcoming titles like Retro Sweets and Cats of Olympuss.

“Win-what-you-see games have enjoyed a surge in popularity recently and we’ve taken that trend and framed it in a contemporary theme, delivering something fresh to players and operators,” the Senior Game Producer for Push Gaming, Craig Turner, said. “In another unique twist from most of our catalogue, we decided not to implement a bonus round but instead designed the entire game with a fast-paced feel that we’re sure players will love.”

Continue Reading
Advertisement
Alpha Affiliates
Advertisement

EveryMatrix

Advertisement

SaaS-builder for partner program development and performance marketing optimization

Advertisement

Launch your iGaming business swiftly and effortlessly with our comprehensive turnkey solutions

Trending

Get it on Google Play

EuropeanGaming.eu is a premier online platform that serves as a leading information hub for the gaming and gambling industry. This industry-centric media outlet reaches over 200,000 readers monthly, providing them with compelling content, the latest news, and deep-dive insights.

Offering comprehensive coverage on all aspects of the gaming sector, EuropeanGaming.eu includes online and land-based gaming, betting, esports, regulatory and compliance updates, and technological advancements. Regular features encompass daily news articles, press releases, exclusive interviews, and insightful event reports.

The platform also hosts industry-relevant virtual meetups and conferences, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - European Gaming is part of HIPTHER. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.