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Melco CEO Lawrence Ho highly appreciated tourism development in Primorye

       The lead investor of the first entertainment complex in the integrated resort «Primorye» noted growth in the tourism industry in Primorsky Krai and the success of the first casino as well. It was reported by the GGRAsia Hong Kong edition with reference to the company's annual report published on the Hong Kong stock exchange.  

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       The head of Melco International Development (the main investor of «G1 Entertainment»), Mr. Lawrence Ho highly appreciated the work of the hotel and entertainment complex «Tigre de Cristal» opened in 2015.

       According to him, despite some difficulties and the presence of factors that hamper the establishment of more efficient casino operation, investors are satisfied with the progress achieved for today the work on the territory of the resort «Primorye» and intend to continue their work. According to forecasts of Daiwa Securities Group Inc. analysts, the gross income of the company from gambling activity in Primorye in 2017 will reach 150 million US dollars and by 2020 this amount can reach 1.3 billion US dollars.In his comments to the annual report of the company, the head of Melco, Mr.

        Ho also stressed that, thanks to the efforts of regional authorities, the level of development of the tourism industry in the Primorsky Territory is continuously increasing, which contributes to the growth of attendance of the first resort facility.

        «The authorities of Primorsky Krai have made significant progress in improving local infrastructure - in particular, this concerns the opening of a high-speed highway between the airport and the casino. Alsoa simplified visa regime will start operating from August 1 this year, which indicates that it will be easier for foreign tourists, especially casino players, to come to Primorye. These steps are very important for us, as for operators of a gambling establishment», said Lawrence Ho.

        Department of Tourism of Primorsky region stated, the first entertainment complex «Tigre de Cristal»there are about 400,000 guests has already visited since the opening. Vice-governor of Primorsky Region Evgeny Polyansky, who oversees the Primorsky Kray's project, noted that the launch of the first casino had already positively affected the tourist attractiveness of Primorye.

        «According to the international airport Knevichi, passenger traffic to the Primorsky Territory in 2016 increased by 30%, and the main reason for this was the work of the first casino in the resort «Tigre de Cristal». Every day about 1000 people visit entertainment complex, whereas operators started with 100 visitors a day. The ratio of foreign and local guests is almost proportional, but 95 percent of the casino's revenue comes from a foreign tourist», the vice-governor noted. 

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        In addition to the gambling hall, which has 224 slot machines and 57 gaming tables, Tigre de Cristal has entertainment projects, entertaining show programs and live music evenings.  

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        The restaurant has two restaurants: the Pan-Asian cuisine restaurant «88» and the European cuisine restaurant «Cascade», where a unique steak is served, and from Wednesday to Friday you can taste the best dishes from the chef at the buffet. On the territory of the complex also the first in the Far East interactive golf club is opened, as well as the SPA-salon.

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       More recently, guests can visit a jewelry store, where the most expensive product - an ivory vase - is estimated at almost 2.5 million rubles. Entrance to the entire complex is free of charge. Recall that the hotel complex «Tigre de Cristal Hotel and Resort» can receive a prestigious international award in the field of tourism World Travel Awards. The complex is nominated in the category of the best hotels in Russia in 2017.

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        Currently there are two more companies are working on the territory of the integrated resort «Primorye»: the companies of Diamond Fortune Holdings Ltd. over the complex «Selena» and the company «Primorsky Entertainment Resorts City» for the construction of the first stage of the hotel and entertainment complex «Naga Entertainment City» («Mayak») (the completion is planned by the end of 2018). «G1 Entertainment» at the stage of coordination of the outline plan of its second object. According to the company's management, the protection of the project before the working group of the Primorsky Region should be held already this year.

        Tax revenues to the regional budget from the integrated entertainment resort Primorye in the bay of Muravyinaya totaled 494.8 million rubles for the entire period of the first casino operation. The tax on gambling the budget of Primorsky Region for the period from October 2015 to April 2017 received 150.5 million rubles. 

       NOTE: G1 Entertainment is a subsidiary of the Hong Kong investor in the person of Summit Ascent Holdings LTD, registered in Russia. 60% of Summit Ascent is owned by Melco International Development, the «gambling emperor» located in Macau.