{"id":11870,"date":"2020-11-17T19:10:39","date_gmt":"2020-11-17T19:10:39","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=11870"},"modified":"2026-04-24T00:01:23","modified_gmt":"2026-04-24T03:01:23","slug":"summit-ascent-increases-stake-in-tigre-de-cristal","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/summit-ascent-increases-stake-in-tigre-de-cristal","title":{"rendered":"Summit Ascent increases stake in Tigre de Cristal"},"content":{"rendered":"\n

Suncity Group’s Bermuda-listed subsidiary has raised its stake in the operator of the Primorye casino by 10 per cent.<\/p>\n\n\n\n\n\n\n\n

Russia.- Suncity\u2019s subsidiary, Summit Ascent, has increased its stake in the hotel and casino Tigre de Cristal to 77.5 per cent.<\/p>\n\n\n\n

Bermuda-registered Summit Ascent manages Oriental Regent Limited (ORL), which operates the property in Primorye, Russia. Suncity Group recently increased its stake in Summit Ascent<\/a><\/em><\/strong> from 24.74 per cent to 69.66 per cent to become the majority stakeholder.<\/p>\n\n\n\n

In a joint press release, the companies have now announced they will increase their stake in ORL by a further 10 per cent to 77.5 per cent.<\/p>\n\n\n\n

The companies said they aim to provide US$65 million in additional capital for the casino project.<\/p>\n\n\n\n

The subscription price for each share was valued at approximately US$228.315.<\/p>\n\n\n\n

Other stakeholders participating are Taipei-listed Firich, Hong Kong\u2019s Jewrim and British Virgin Islands firm, City Wealth.<\/p>\n\n\n\n

Firich\u2019s participation in ORL will fall from 25 per cent to 20 per cent, City Wealth’s will fall from 5 per cent to 1.7 per cent. Jewrim\u2019s interest will fall from 2.5 per cent to 0.8 per cent.<\/p>\n\n\n\n

Suncity Group recently said it would move forward with the planning and construction of Phase II<\/a><\/em><\/strong> of Tigre de Cristal, which will double the number of existing gaming tables and slot machines and add novel entertainment concepts.<\/p>\n\n\n\n

The company is also planning to reveal a \u201cbrand-new Suncity VIP room\u201d to Summit Ascent shareholders once travel restrictions normalise.<\/p>\n\n\n\n

Suncity expects to attract visitors from South Korea and Japan to Tigre de Cristal. <\/p>\n\n\n\n

It also said it was \u201cconfident of the long-term prospects of Summit Ascent\u201d since it holds a gaming licence for the Primorye casino for an indefinite period of time and pays lower gaming taxes there compared with other jurisdictions, such as Macau.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Suncity Group’s Bermuda-listed subsidiary has raised its stake in the operator of the Primorye casino by 10 per cent.<\/p>\n","protected":false},"author":2,"featured_media":11872,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Suncity Group's Bermuda-listed subsidiary, Summit Ascent, has increased its stake in Oriental Regent Limited (ORL), the operator of Russia's Tigre de Cristal casino, to 77.5 per cent. This strategic move, supported by a US$65 million capital injection, aims to fund Phase II expansion, doubling gaming capacity and introducing new entertainment concepts. The company cites an indefinite gaming license and lower tax rates in Primorye as key competitive advantages over other jurisdictions.","focusai_entities":"Suncity Group, Summit Ascent, Oriental Regent Limited, Tigre de Cristal, Firich, Jewrim, City Wealth","focusai_location":"Russia, Primorye, Bermuda, Taipei, Hong Kong, British Virgin Islands, South Korea, Japan, Macau","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), compliance_legal (0.7), operator_casino (1.0), marketing_crm (0.8), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Phase II ROI Projections","query":"What are the projected Gross Gaming Revenue (GGR) and Net Gaming Revenue (NGR) uplifts anticipated from Tigre de Cristal's Phase II expansion, considering the US$65 million capital injection?"},{"label":"Regional Market Impact","query":"How does Suncity Group's increased stake and expansion in Primorye strategically position it against competitors in the broader Northeast Asian gaming market, particularly concerning VIP segment capture?"}],"footnotes":""},"categories":[28,16331],"tags":[23701,1427],"class_list":["post-11870","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-elsewhere-news","tag-summit-ascent","tag-suncity"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11870","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=11870"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11870\/revisions"}],"predecessor-version":[{"id":11874,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11870\/revisions\/11874"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/11872"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=11870"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=11870"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=11870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}