Tag Archives: Summit Ascent
Russia – Suncity increases ownership in Summit Ascent to 69.66 per cent
Suncity Group Holdings has said it now has ‘every reason to drive businesses in Summit Ascent’ after increasing its stake in the owner of Tigre de Cristal in Russia from approximately 24.74 per cent to approximately 69.66 per cent via a rights issue. Since the grand opening of Tigre de Cristal in November 2015, Tigre…
Russia – Summit Ascent looking to diversify into other gaming markets
Summit Ascent Holdings has said it will limit the expansion of Tigre de Cristal’s Phase II expansion in Russia’s far east and look instead to diversify its revenue streams with investments in other gaming markets. The Directors believe that the COVID-19 will continue to present challenges to the Group, and it is impossible to quantify…
Russia – Slots help drive Tigre de Cristal to second year of profit growth
Summit Ascent Holdings, who owns 60 per cent of Oriental Regent Limited, who operates Tigre de Cristal in the Russian Far East, has said the casino saw an increase of 18 per cent in EBIDTA and a 15 per cent increase in revenues in 2019. Adjusted Property EBITDA generated came in at HK$214.8m in 2019,…
Russia – Revenues at Tigre de Cristal exceed expectations
Tigre de Cristal, Summit Ascent’s resort casino in the Russian Far East, helped drive a revenue increase of 46 per cent in 2017 with GGR up to HK$470.8m(US$59.98m). Adjusted Property EBITDA generated by Oriental Regent Limited, a subsidiary of the Group through which Tigre de Cristal, is operated, was HK$173.7m for the year 2017, up…
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 – Tigre de Cristal set for $500m Phase 2
The owners of Tigre de Cristal, the biggest casino in Russia’s Integrated Entertainment Zone in the Primorye Region near Vladivostok, will invest US$500m in developing the project’s Phase 2. G1 Entertainment, a majority-owned subsidiary of Summit Ascent Holdings Limited, the company behind the casino, has confirmed that Phase 2 of the project will add 100,000…
Russia – Tigre de Cristal doubles daily attendance
Over 190,000 people have so far visited Tigre de Cristal, an Integrated Entertainment Zone in the Primorye Region near Vladivostok, since the beginning of the year. The casino’s owners Summit Ascent Holdings, fronted by Lawrence Ho, reported that its average daily visitation had doubled in the past quarter with the average number of daily visits…
Russia – Tigre De Cristal records ‘phenomenal month-on-month growth’
‘Phenomenal month-on-month growth’ from the Asian VIP gaming sector has seen Tigre De Cristal in Russia’s Primorsky Krai region, post a net profit of US$219,100 for its first six month. The company who owns 60 per cent of the casino, Summit Ascent Holdings Limited, revealed that this time last year it made a loss of…
Russia – Tigre de Cristal reports a loss in its first full quarter
Tigre de Cristal, the first casino resort to open in the gaming zone of Primorsky Krai , close to the Russian Far East city of Vladivostok, has posted its first full quarter of results, generating a loss of HK$85.4m (US$11m) and EBIDTA of HKD14.3m (US$1.8m) for the quarter to December 31. Having opened on October…
