Tigre de Cristal Phase II was set to open in 2022 but Summit Ascent has postponed the target launch to 2023.
Russia.- Suncity Group Holdings and Summit Ascent Holdings have announced that the target launch of Tigre de Cristal Phase II has been postponed to 2023 owing to several delays due to the Covid-19 pandemic.
Summit Ascent stated in its annual report that the Covid-19 pandemic had been “the biggest disruptor” to its business after governments issued entry restrictions and lockdowns. Tigre de Cristal was required to suspend its operations temporarily from March 28 to July 15 2020.
The company said the Tigre de Cristal Phase II development progress has been inevitably affected by the Covid-19 pandemic. It said the group was working “to reimagine the brand-new, awe-inspiring Phase II.”
Summit Ascent reported the Tigre de Cristal expansion project will cost approximately US$200m. It will have 25 mass gaming tables, 50 VIP gaming tables and 300 electronic gaming machines.
Summit Ascent reported a positive adjusted EBITDA of HKD10.0m (US$1.29m) in its 2020 full-year results, a drop of 87.8 per cent year-on-year, down from HKD82.0m in 2019.