Tag Archives: Tigre de Cristal
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…
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 – 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 – Summit Ascent asks for status quo on Tigre de Cristal tax rates
Summit Ascent, the operator behind the Tigre de Cristal in the Primorsky Region in the Russian Far East, has said it could be subjected to higher taxes if federal Government approves changes to the tax laws. The Federal Government has recently submitted a draft bill to the State Duma proposing an increase to the range…
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 sees GGR surge by20 per cent
An upturn in VIP gaming has helped revenues at Tigre de Cristal resort in the Russian Far East increase by 20 per cent to HK$204.6m (US$26.1m). The main contribution to the profitability of Tigre de Cristal came from the rolling chip business, which targets VIP customers from Northeast Asia. Rolling chip turnover at Tigre de…
Russia – Illegal operations forcing Tigre de Cristal to reduce its offering
Illegal operations in Russia have forced the Tigre de Cristal casino in Primorye gaming zone, close to Vladivostok, in the Far East to drastically reduce the size of its operation. Having opened the casino in November 2015, Craig Ballantyne, a Director at G1 Entertainment, which operates Tigre de Cristal, confirmed the casino had been forced…
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…
