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Tag Archives: Tigre de Cristal

Russia – Tigre de Cristal expansion delayed until 2025 due to economic uncertainty

Despite returning to positive EBITDA of HK$40.9m in 2021, Russian operator Summit Ascent Holdings is delaying the Phase II development of Tigre de Cristal in the Primorye Economic Zone near Vladivostok due to unknown economic changes caused by Russia’s war on Ukraine. Whilst revenue at the casino improved by 26 per cent in 2021 to…

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…

Vietnam – Sun City Holdings confident that pent up demand will fuel recovery

Sun City Group Holdings, the 77 per cent owner of Russia’s Tigre de Cristal, the operating force behind Hoiana in Vietnam and the developer of the Westside City Project in Philippines, has said a ‘roller coaster’ of a year saw its revenues plunge 67 per cent to RMB199.3m. The year of COVID dampened the opening…

Russia – Government recoups investment in Primorsky through gaming tax

Russia’s Primorsky Territory has already recouped the money it invested to help get its gaming zone up and running. Konstantin Shestakov, Deputy Prime Minister of Primorsky Territory highlighted that the level of gaming taxation paid by the two existing casinos, Tigre de Cristal and Shambala, have already paid back the US$25.5m the local government spent…

Russia – Summit Ascent increases shareholding in Tigre de Cristal

An off-shore Russian subsidiary of Hong Kong-listed Summit Ascent Holdings has increased its shareholding in Oriental Regent Limited (ORL), the operating force behind Tigre de Cristal in Primorye near Vladivostok, by 10 per cent to 77.5 per cent in a move that will help fund the Phase II expansion of the casino. It could still…

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 – VIP play could double for Tigre de Cristal

Analysts believe that VIP revenue generated at Tigre de Cristal in the Russian Far East resort of Primorye could double over the next two years. Union Gaming Analyst Grant Govertsen said: “Underpinned by a sequentially improving VIP story, as well as continued strong growth in mass and slots (itself driven by enforcement against illegal venues…