Summit Ascent Holdings Limited

Summit Ascent Holdings Limited benefits from domestic Tigre De Cristal trade

August 24, 2022

Latest Casino and Gambling News, Casino News, Casino expansion projects, Gaming Industry News, Casino project updates, Economy/Finance, Russia

Summit Ascent Holdings Limited has released its interim half-year financial results showing that aggregated revenues increased by 37% year-on-year to approximately $22.6 million thanks to the strong performance...

Primorsky Krai extends casino tax relief measures as sanctions begin to bite

Adam Morgan

April 21, 2022

Casino proposals, Latest Casino and Gambling News, Casino News, Gaming Law & Legislation, Gaming Industry News, Casino project updates, Economy/Finance, Taxation, Mergers, Acquisitions & Partnerships, Russia

As international sanctions begin to bite and the government for the Russian territory of Primorsky Krai has reportedly passed legislation to extend a range of tax relief measure for local casino operators by a ...

Summit Ascent Holdings Limited delays planned Tigre De Cristal expansion

Adam Morgan

March 23, 2022

Casino News, Latest Casino and Gambling News, Casino expansion projects, Gaming Industry News, Economy/Finance, Russia

Asian casino operator Summit Ascent Holdings Limited has reportedly announced that the planned $200 million expansion of its Tigre De Cristal development is being postponed to ‘no earlier than 2025’ due to a ra...

South Korean firm investing in Russia’s far eastern casino zone

Adam Morgan

March 22, 2022

Latest Casino and Gambling News, Casino proposals, Casino News, New Hotels, Gaming Industry News, Economy/Finance, Mergers, Acquisitions & Partnerships, Russia

In Russia and the state-owned Primorsky Krai Development Corporation has reportedly signed a deal that is to see South Korean enterprise Plgen Holdings Company Limited bring a $23.9 million casino resort to the...

NagaCorp Limited suspends development of Russian casino project

Adam Morgan

March 4, 2022

Casino News, Latest Casino and Gambling News, New Hotels, Gaming Industry News, Casino project updates, Economy/Finance, Mergers, Acquisitions & Partnerships, Russia

Asian casino operator NagaCorp Limited has reportedly indefinitely suspended its plan to bring a $350 million Las Vegas-style gambling development to eastern Russia’s Primorye Integrated Entertainment Resort zo...

Alvin Chau Cheok Wa to resign as boss of Suncity Group Holdings Limited

Adam Morgan

November 30, 2021

Casino News, Latest Casino and Gambling News, Online gambling regulation, Gaming Industry News, Money Laundering, Economy/Finance, Unlicensed Operation, Asian Casino News, Online Gambling News, Mergers, Acquisitions & Partnerships, Crime, Financial Fraud

Following his arrest by police in mainland China over the weekend and Alvin Chau Cheok Wa (pictured) is reportedly set to stand down as Chief Executive Officer for Asian casino investor Suncity Group Holdings L...

Summit Ascent Holdings Limited extends loan on Philippines casino

Adam Morgan

September 21, 2021

Casino News, Latest Casino and Gambling News, Gaming Industry News, Casino project updates, Economy/Finance, Mergers, Acquisitions & Partnerships, Philippines

Asian casino operator Summit Ascent Holdings Limited has reportedly extended the maturity date on a $122.5 million loan it agreed with Filipino associate SunTrust Home Developers Incorporated in February. Ac...

Suncity Group Holdings Limited expecting to record full-year profit

Adam Morgan

March 23, 2021

Latest Casino and Gambling News, Casino News, Gaming Industry News, Casino project updates, Economy/Finance, Macau, Mergers, Acquisitions & Partnerships

Asian casino investor Suncity Group Holdings Limited has reportedly announced that it expects to release its 2020 financials next week featuring a respectable full-year profit attributable to shareholders of ab...

Under-construction Naga Vladivostok set to receive local government help

Adam Morgan

February 10, 2021

Casino News, Latest Casino and Gambling News, Casino proposals, Casino openings, Gaming Industry News, Casino project updates, Economy/Finance, Labor Relations, Russia

In Russia and the government for the Far Eastern province of Primorsky Krai has reportedly announced that it is to help casino operator NagaCorp Limited speed up construction on its $350 million Naga Vladivosto...

Suncity Group Holdings Limited upping its Russian commitment

Adam Morgan

November 3, 2020

Casino News, Latest Casino and Gambling News, Casino expansion projects, Gaming Industry News, Economy/Finance, Mergers, Acquisitions & Partnerships, Russia

Asian junket behemoth Suncity Group Holdings Limited has reportedly announced that one of its subsidiaries has agreed deals to acquire a further 7.5% stake in Oriental Regent Limited and take its combined inter...

Suncity Group Holdings Limited ups its stake in Summit Ascent Holdings Limited

Adam Morgan

October 15, 2020

Latest Casino and Gambling News, Casino News, Casino expansion projects, Gaming Industry News, Hong Kong, Economy/Finance, Mergers, Acquisitions & Partnerships, Russia

Asian junket behemoth Suncity Group Holdings Limited has reportedly announced the completion of a deal that has seen it pay approximately $160 million in order to acquire a further 41.69% stake in Russian casin...

Shambala Casino to conduct grand opening on Friday

Adam Morgan

October 14, 2020

Casino News, Latest Casino and Gambling News, Casino proposals, Casino openings, Casino project updates, Gaming Industry News, Economy/Finance, Russia

In Russia and the first phase of the $45 million Shambala Casino from local concern Shambala CJSC is reportedly set to fully open on Friday complete with a restaurant, a theater, a pair of fast-food venues and ...

Summit Ascent to limit Tigre de Cristal Phase II expansion as COVID-19 sees nearly 63 percent revenue drop in 1H20

K Morrison

August 25, 2020

Casino News, Latest Casino and Gambling News, Casino expansion projects, Casino project updates, Gaming Industry News, Economy/Finance, Russia

Hong Kong-based investment holding company Summit Ascent Holdings Limited (102:Hong Kong) will reportedly begin construction on the US$200 million phase two of Tigre de Cristal located in Russia's Primorye Inte...

Late-summer opening plans for Russia’s coming Shambala Casino

Adam Morgan

July 30, 2020

Latest Casino and Gambling News, Casino News, Casino openings, Gaming Industry News, Casino project updates, Economy/Finance, Russia

In Russia and the government for the Far Eastern province of Primorsky Krai has reportedly announced that the first phase of the coming Shambala Casino is scheduled to open later ‘this summer’ following over tw...

Tigre De Cristal to re-open following coronavirus-induced shutdown

Adam Morgan

July 16, 2020

Casino News, Latest Casino and Gambling News, Casino openings, Casino closures, Gaming Industry News, Economy/Finance, Labor Relations, Russia

Asian casino operator Summit Ascent Holdings Limited has reportedly announced that it has been granted official permission to revive operations at its Tigre De Cristal facility following an over 15-week shutdow...