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Tigre de Cristal has new executive director
Representatives of Summit Ascent Holdings Ltd said that the specifics of Russian laws deprive them of a significant amount of profits. The Hong Kong company, which owns the Tigre de Cristal casino in Primorye, is convinced that the need to exchange dollars for rubles to buy chips keeps players from large bets.
The conclusion about the lost profit was made after analyzing the income of Tigre de Cristal for the first half of 2017. Compared to 2016, it increased by 48% and amounted to $10.1 million. But it became apparent that customers prefer slots (their share in profits increased by 16%), while the demand for traditional casino games falls: customers do not want to exchange dollars for rubles, because they lose a lot on the commission. Therefore, casino management in Primorye intends to seek permission for allowing dollar rates, suggesting that this will increase the revenue.
Meanwhile, the management of Tigre de Cristal has been reshuffled: the former CEO, Craig Ballantyne, will leave office in order to occupy a leading position in the new entertainment complex with a casino in Cyprus. The casino near Vladivostok is now headed by Stylianos Tsifetakis, aged 46. He is an expert with more than 20 years of experience in the gambling business. Previously, he served as vice president of Tigre de Cristal.
The shareholders unanimously approved Tsifetakis: experience and previous merits characterize him as an effective leader. It is assumed that he will continue the policy of his predecessor, in particular, regarding the monitoring of the seaside casino second stage construction.