{"id":17162,"date":"2021-04-23T14:54:06","date_gmt":"2021-04-23T14:54:06","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=17162"},"modified":"2026-04-23T20:08:17","modified_gmt":"2026-04-23T23:08:17","slug":"tigre-de-cristal-phase-ii-opening-delayed-until-2023","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/tigre-de-cristal-phase-ii-opening-delayed-until-2023","title":{"rendered":"Tigre de Cristal Phase II opening delayed until 2023"},"content":{"rendered":"\n<p>Tigre de Cristal Phase II was set to open in 2022 but Summit Ascent has postponed the target launch to 2023.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Russia.-<strong>\u00a0Suncity Group Holdings\u00a0<\/strong>and\u00a0<strong>Summit Ascent Holdings<\/strong>\u00a0have announced that the target launch of\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/tigre-de-cristal-phase-ii-underway\">Tigre de Cristal Phase II<\/a>\u00a0has been\u00a0<strong>postponed to 2023\u00a0<\/strong>owing to several delays due to the Covid-19 pandemic.<\/p>\n\n\n\n<p><a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/summit-ascent-appoints-new-ceo\">Summit Ascent<\/a>\u00a0stated in its annual report that the Covid-19 pandemic had been &#8220;the biggest disruptor&#8221; to its business after governments issued entry restrictions and lockdowns.\u00a0<strong>Tigre de Cristal was required to suspend its operations temporarily\u00a0<\/strong>from\u00a0<strong>March 28 to July 15 2020<\/strong>.<\/p>\n\n\n\n<p>The company said the <strong>Tigre de Cristal Phase II development progress has been inevitably affected by the Covid-19 pandemic<\/strong>. It said the group was working &#8220;to reimagine the brand-new, awe-inspiring Phase II.&#8221;<\/p>\n\n\n\n<p>Summit Ascent reported the\u00a0<strong>Tigre de Cristal expansion project will cost approximately US$200m<\/strong>. It will have 25 mass gaming tables, 50 VIP gaming tables and 300 electronic gaming machines.<\/p>\n\n\n\n<p>Summit Ascent reported a&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/summit-ascent-reports-positive-adjusted-ebitda-in-2020\" rel=\"noreferrer noopener\">positive adjusted EBITDA<\/a>&nbsp;of&nbsp;<strong>HKD10.0m (US$1.29m)<\/strong>&nbsp;in its 2020 full-year results, a drop of&nbsp;<strong>87.8 per cent year-on-year<\/strong>, down from&nbsp;<strong>HKD82.0m in 2019.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tigre de Cristal Phase II was set to open in 2022 but Summit Ascent has postponed the target launch to 2023.<\/p>\n","protected":false},"author":176,"featured_media":17163,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Summit Ascent Holdings, in conjunction with Suncity Group Holdings, has postponed the target launch of Tigre de Cristal Phase II from 2022 to 2023 due to significant Covid-19 pandemic-related disruptions. This US$200m expansion, featuring extensive mass and VIP gaming facilities, saw Summit Ascent report an 87.8% decline in adjusted EBITDA for 2020.","focusai_entities":"Suncity Group Holdings, Summit Ascent Holdings, Tigre de Cristal","focusai_location":"Russia","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Revised CAPEX Timeline","query":"What is the updated capital expenditure deployment schedule for Tigre de Cristal Phase II, and what are the implications for Summit Ascent's liquidity and debt service coverage ratios?"},{"label":"Regional Performance Comparison","query":"How does Summit Ascent's 87.8% adjusted EBITDA decline in 2020 compare to the average performance of other integrated resort operators in the Asia-Pacific region during the same period of pandemic-induced disruption?"}],"footnotes":""},"categories":[28,16331],"tags":[23907,23701,22436],"class_list":["post-17162","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-elsewhere-news","tag-land-based-casino","tag-summit-ascent","tag-tigre-de-cristal"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/17162","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=17162"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/17162\/revisions"}],"predecessor-version":[{"id":17186,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/17162\/revisions\/17186"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17163"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=17162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=17162"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=17162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}