Just a few weeks ago, reports had surfaced that Summit Ascent Holdings Ltd and SJM Holdings Limited may be interested in becoming involved in the Crimean gaming zone. Both Stanley Ho and his son Lawrence were reported to be interested in expanding their investment portfolios by moving into the area, but this appears to not be the case. Summit Ascent Holdings has now denied that the company has plans of any sort to invest in the gambling zones of occupied Crimea or the ski resorts of Sochi.

Betting Business Russia released a statement this week, reports AGB, that revealed comments by Craig Ballantyne, the Executive Director for Summit Ascent. In the statement, Ballantyne said that the company was ‘definitely not planning to invest in the gambling zones located in the Republic of Crimea and Sochi’.

The previous reports quoted a high-profile source from a business circle of Russian-Chinese individuals but these comments are not true, according to Ballantyne of Summit Ascent. The company has invested in another gaming zone of Russia, Primorye, and are working with Melco International Development on the project.

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