Macau’s share of the VIP gaming sector might be at risk, and that could in part be because rivals in the region are scooping up their fair share. The Tigre de Cristal casino resort, located in Vladivostok, Russia, looks to be one of the operators capitalizing on that shift, with one analysis pumping up its expected forecast 250%.

Union Gaming Securities Asia Ltd now believes the casino will bring in HKD 59.7 billion ($7.61 billion) in 2020, up from the 2019 forecast of HKD17.2 billion ($2.19 billion).

Part of the reason for this huge increase is due to the increased stake taken by Suncity Group Holdings in the promoter of the casino, Summit Ascent Holdings. Union Gaming wrote:

“Suncity [Group Holdings] has taken a material ownership stake in the company [Summit Ascent] and we expect the VIP volume story at Summit Ascent’s Tigre de Cristal to grow by nearly 250 percent next year (with notable upside risk based on the amount of volume Suncity has at its disposal).”