Tag Archives: Tigre de Cristal
Russia – Russian entity looks to take control of Tigre de Cristal
A Russia company called Dalnevostochniy Aktiv is reportedly close to purchasing a controlling share in Tigre de Cristal, the leading casino in Russia’s Far East near Vladivostok in the Primorye Integrated Entertainment Zone. The deal, which will cost $116m, was revealed on the Taiwan Stock Exchange by Firich Investment who owns 20 per cent of the shares…
Russia – Summit Ascent says it is open to ‘strategic local partners’ to operate Tigre de Cristal due to the war in Ukraine
Summit Ascent Holdings, the owner of Tigre de Cristal in Russia’s far eastern city of Vladivostok, has said it is now looking at ‘strategic local partners’ to run its integrated resort due to ongoing challenges generated by the war in Ukraine. The group has said it is also continuing to delay the development of its…
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…
