Summit Ascent Holding Ltd., a company controlled by gaming entrepreneur Lawrence Ho, announced last week that its Tigre De Cristal integrated resort located in Russia’s Primorsky Krai, will have its soft opening on October 8.
In a late filing last Thursday with the Hong Kong Stock Exchange, the company wrote, ‘We now expect to conduct a soft opening of the property on 8th October 2015. A grand opening of the property including the hotel, is now expected to be conducted in late October 2015.”
In a previous announcement in May, the subsidiary formerly known as First Gambling Co. of the East LLC, now, Summit Ascent’s subsidiary, G1 Entertainment LLC, announced that the project near Vladivostok in the Integrated Entertainment Zone of the Primorye Region in the Far East of Russia would open by August 28.
According to the filing by the company, ‘The Tiger de Cristal property is undergoing final fit-out and operations commissioning, and is concurrently progressing through the government building approval process.”
According to its subsidiary, Summit Ascent, having maintained stringent cost controls, material budget overruns are not expected therefore external fundraising will not be necessary. The subsidiary said, ‘We remain optimistic about the prospects for our project in the Russian Far East and appreciate our stakeholders and partners’ ongoing support as we approach our imminent opening date.”
The first of the Promorye Gambling Zone’s four known participants in the Russian Federation, the Tiger De Cristal integrated resort and casino is expected to offer 119 hotel rooms, accommodate 25 VIP gaming tables, 800 slots, and 40 mass market gaming tables.