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Tag Archives: Primorsky

Russia- Local demand in Russia sees Tigre de Cristal recover quickly

With revenues generated in the Philippines and Vietnam restricted by international travel restrictions, it was left to Tigre de Cristal in Russiato prop up the results of SunCity Holdings. The Russian casino generated a positive Adjusted EBITDA of HK$17.2m in the 1H 2021, versus a negative Adjusted EBITDA of HK$22.1m in the 1H 2020. Net…

Russia – Doubling of gaming tax to slow Tigre de Cristal’s next phase

Russia’s Far East operator Summit Ascent is likely to delay the opening of the second phase of Tigre de Cristal, its casino in the Russian gaming zone of Primorsky due to an increase in taxation. Union Gaming Securities Asia believes the operator’s EBITDA for 2018 could fall six per cent if the new taxation laws…

Russia – Lawrence Ho reduces shareholding in Tigre de Cristal

Melco Resort’s Lawrence Ho has reduced his shareholding in Summit Ascent Holdings, developer of the Tigre de Cristal casino resort in Russia’s eastern Primorsky gambling zone, sparking speculation that he is freeing up cash to invest in the Philippines. Mr. Ho has offloaded $21.3m worth of shares last week, reducing his share in the Summit…

Russia – Melco Crown yet to confirm Primorye commitment

Despite media outlets across the world reporting it as fact, Melco Crown Entertainment has so far refused to confirm its involvement as a casino operator in the future Russian gaming zone ofPrimorye. Speculation has been intense since Summit Ascent Holdings, a Hong Kong-based company that is 37 per cent owned by Lawrence Ho, the co-chairman…

Russia – Primorsky governor meets with Genting and Melco

Some high profile international operators have been showing an interest in the Russian gambling zone earmarked for Vladivostok in the Primorsky Territory in the Far East with Malaysian operator Genting and Macau operator Melco Crown recently meeting with Russian officials. The Governor of Primorsky Territory, Vladimir  Miklushevskiy visited Singapore to take a tour of Resorts…