• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Monday 4 August 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

Russian domestic market drives rising revenues for Summit Ascent’s Tigre de Cristal in 1H21

Ben Blaschke by Ben Blaschke
Wed 25 Aug 2021 at 05:16
Summit Ascent seen booking 349% GGR increase at Tigre de Cristal in 2021 on Suncity influence

Tigre de Cristal in Russia.

24
SHARES
598
VIEWS
Print Friendly, PDF & Email

Summit Ascent Holdings says it has now completed all upgrade works at its Russian integrated resort, Tigre de Cristal in Vladivostok, with a new Suncity Premium Club, authentic hotpot restaurant and private club awaiting the reopening of borders.

The update formed part of Summit Ascent’s earnings release for the six months to 30 June 2021, which saw the domestic mass and slot machine market drive a 9% year-on-year increase in GGR to HK$139.1 million (US$17.9 million).

The improvement came despite Tigre de Cristal recording zero revenue from its rolling chip business in H1 compared with HK$50.0 million (US$6.4 million) in the first six months of 2020.

Instead, mass table GGR notched a 92% year-on-year increase to HK$68.5 million (US$8.8 million) on a 68% rise in table drop to HK$237 million (US$30.4 million), while slot machine GGR grew 70.2% to HK$70.6 million (US$9.1 million) with volume rising 93% to HK$1.56 billion (US$200.2 million).

Hotel revenue grew 82% year-on-year to HK$6.7 million (US$860,000).

Group-wide, the first six months of 2021 saw total revenue increase 35% year-on-year and 12% versus 2H20 to HK$129.5 million (US$16.6 million).

Adjusted EBITDA of HK$17.2 million (US$2.2 million) also reversed an EBITDA loss of HK$22.1 million (US$2.8 million) in 1H20, representing a 131% increase over the back half of 2020.

Net loss attributable to owners of the company narrowed from HK$47 million (US$6.0 million) over the same period last year to just HK$130,000 (US$16,700).

Summit Ascent, which is 69.66% owned by Suncity Group, said it is confident its Russian IR will make considerable strides forward as borders start to open, adding that uncertainty surrounding Japan’s land-based casino market could work in Russia’s favor.

Part of Tigre de Cristal’s Phase 1 upgrade work.

“We are excited to observe that international flights are resuming to the Vladivostok International Airport from 2021 onwards from places such as Seoul and Tokyo,” the company said.

“Although the number of tourists arriving at Vladivostok via these flights is low due to back-and-forth quarantine requirements, we are confident on the overall long-term appeal of the IEZ Primorye. Together with the recent and would-be openings of new integrated resorts in the IEZ Primorye, the cluster effect can draw tourists and turn the area into a leisure destination on its own.

“The uncertainty in land-based gaming developments in Japan also poses an opportunity for the IEZ Primorye to fill this gap as it is only a short flight away for Japanese tourists.”

Summit Ascent added that planning and construction work on Tigre de Cristal Phase II is also “well underway” despite some delays due to COVID-19. When both the Phase 1 upgrade and Phase II expansion are fully operational, Tigre de Cristal will triple its number of rooms, and double in number its gaming facilities.

RelatedPosts

Jeju Dream Tower sets new records for casino drop, sales and visitation in July

Jeju Dream Tower sets new records for casino drop, sales and visitation in July

Sun 3 Aug 2025 at 12:47
Macau GGR up 19% year-on-year to MOP$22.1 billion in July, sets new post-pandemic record

Macau GGR up 19% year-on-year to MOP$22.1 billion in July, sets new post-pandemic record

Fri 1 Aug 2025 at 12:49
Wynn Macau named Official Venue Partner for Asia’s 50 Best Restaurants 2022

Wynn Macau locks in US$1 billion increase to facilities agreement

Fri 1 Aug 2025 at 06:20
Konami reveals strong growth for Gaming and Systems segment despite group-wide declines in 1H20

Konami’s Gaming & Systems suffers decline in in June quarter profits on competitive environment, rising tariff costs

Fri 1 Aug 2025 at 05:44
Load More
Tags: casinoGamingRussiaSummit AscentSuncity GroupTigre de CristalVladivostok
Share10Share2
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Better late than never

Editorial – Better late than never

by Ben Blaschke
Thu 31 Jul 2025 at 07:13

Inside Asian Gaming has in recent weeks been hearing increasing chatter around a possible move by Vietnamese authorities to introduce...

Angel’s Yasushi Shigeta

Angel’s Yasushi Shigeta

by Ben Blaschke
Thu 31 Jul 2025 at 07:08

Yasushi Shigeta, Chairman and owner of one of the world’s largest gaming industry suppliers, Angel Group, sits down with Inside...

The Magic Number

The Magic Number

by David Bonnet
Thu 31 Jul 2025 at 06:41

In this in-depth deep dive into the evolution of the Asian gaming landscape, David Bonnet argues that many regional jurisdictions...

Rashid Suliman – A road well traveled

Rashid Suliman – A road well traveled

by Ben Blaschke
Thu 31 Jul 2025 at 02:45

Rashid Suliman, Vice President of Global Gaming Asia-Pacific for casino solutions provider TransAct Technologies, provides some insight into his unique...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
HKUST
NWR

Related Posts

Light & Wonder’s Siobhan Lane

Global debut of “Fortune Doors” among five Light & Wonder game families to be showcased at next week’s Australasian Gaming Expo

by Ben Blaschke
Mon 4 Aug 2025 at 13:16

Global gaming giant Light & Wonder will debut its latest game family, Fortune Doors, at next week’s Australasian Gaming Expo in Sydney – one of five game families offering 14 unique themes between them to feature at the company’s stand....

Experts claim 90% of Macau money exchange gangs eradicated since passing of illegal gaming law

Morgan Stanley says Macau now a growth market, raising 2025 GGR and EBITDA forecasts after two consecutive monthly beats

by Ben Blaschke
Mon 4 Aug 2025 at 11:48

Investment bank Morgan Stanley has raised its Macau GGR and EBITDA growth forecasts for 2025, and operator price targets by 30% across the board, following two consecutive monthly beats in June and July. In a Monday note, Morgan Stanley analysts...

Hann Resorts founder Dae Sik Han says IPO essential to ensure no delays to Clark expansion plans

Hann Resorts founder Dae Sik Han says IPO essential to ensure no delays to Clark expansion plans

by Ben Blaschke
Mon 4 Aug 2025 at 06:02

The Chairman and CEO of Hann Philippines Inc, Dae Sik Han, has revealed he opted to proceed with an initial public offering on the Philippine Stock Exchange to ensure his ambitious expansion plans could proceed without delay. Hann, the parent...

Philippine government insists President Marcos won’t “act in haste” on calls to ban online gaming

Philippine government insists President Marcos won’t “act in haste” on calls to ban online gaming

by Newsdesk
Mon 4 Aug 2025 at 05:55

The Presidential Palace has insisted that President Ferdinand R Marcos Jr will not act in haste in assessing whether or not ban the Philippines’ online gaming – also known as remote gaming or eGames – industry. The comments from Palace...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語