{"id":21969,"date":"2021-08-25T13:32:54","date_gmt":"2021-08-25T16:32:54","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=21969"},"modified":"2026-04-23T16:18:13","modified_gmt":"2026-04-23T19:18:13","slug":"summit-ascent-posts-35-rise-in-revenue-for-h1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/summit-ascent-posts-35-rise-in-revenue-for-h1","title":{"rendered":"Summit Ascent posts 35% rise in revenue for H1"},"content":{"rendered":"\n

The Tigre de Cristal operator has posted revenue of HK$129.5m (US$16.6m) for the first half of the year.<\/p>\n\n\n\n\n\n\n\n

Russia.- Summit Ascent Holdings<\/strong>, operator of the Tigre de Cristal casino and resort in Primorye, has posted revenue of HK$129.5m (US$16.6m)<\/strong> for the first half of 2021.<\/p>\n\n\n\n

Net losses were reduced from HK$47m to HK$131,000<\/strong>\u00a0when compared to the first half of the last year when\u00a0Tigre de Cristal<\/a>\u00a0closed its doors amid Covid-19 countermeasures announced by the Russian government.<\/p>\n\n\n\n

EBITDA for the period was HK$17.2m (US$2.2m)<\/strong>, compared to a negative HK$22.1m in the first half of 2020. The figure was up 131 per cent when compared to the second half of last year. <\/p>\n\n\n\n

Gross gaming revenue (GGR) amounted to HK$139.1m, up 9.4 per cent year-on-year, although\u00a0the company hasn’t registered revenue from the VIP segment<\/strong>\u00a0due to the Covid-19 pandemic.<\/p>\n\n\n\n

The\u00a0mass-table segment was up 92 per cent\u00a0<\/strong>to HK$68.5m and slot-machine revenue 70.2 per cent to HK$70.6m due to growth in the domestic market.<\/p>\n\n\n\n

The company said phase one of Tigre de Cristal’s development was complete, including a Suncity Premium Club, a new private club, and a hotpot restaurant.\u00a0The second phase is underway despite “minor delays caused by the pandemic.”\u00a0<\/p>\n\n\n\n

In April, the company announced that the target launch of\u00a0Tigre de Cristal Phase II<\/a>\u00a0had been\u00a0postponed to 2023\u00a0<\/strong>owing to several delays. Summit Ascent reported the\u00a0Tigre 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","protected":false},"excerpt":{"rendered":"

The Tigre de Cristal operator has posted revenue of HK$129.5m (US$16.6m) for the first half of the year.<\/p>\n","protected":false},"author":176,"featured_media":17592,"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, operator of Tigre de Cristal in Russia, reported H1 2021 revenue of HK$129.5m and a significant reduction in net losses, alongside positive EBITDA. Gross Gaming Revenue (GGR) increased 9.4% year-on-year, driven by robust domestic mass-table and slot-machine segments, despite the absence of VIP revenue due to pandemic impacts. The company also confirmed the completion of Phase One development and ongoing progress on the US$200m Phase Two expansion, now targeting a 2023 launch.","focusai_entities":"Summit Ascent Holdings, Tigre de Cristal, Suncity Premium Club","focusai_location":"Russia, Primorye","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.8)","focusai_suggestions":[{"label":"Phase II Funding Strategy","query":"What is the specific financing structure for the US$200m Tigre de Cristal Phase Two expansion, and what are the potential impacts of the 2023 launch delay on projected ROI?"},{"label":"Domestic Market Sustainability","query":"Given the strong performance of the domestic mass-table and slot segments, what long-term strategies is Tigre de Cristal implementing to sustain this growth post-pandemic, particularly as international VIP travel potentially resumes?"}],"footnotes":""},"categories":[16331,163],"tags":[23907,23701],"class_list":["post-21969","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-elsewhere-news","category-finance-news","tag-land-based-casino","tag-summit-ascent"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/21969","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=21969"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/21969\/revisions"}],"predecessor-version":[{"id":21999,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/21969\/revisions\/21999"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17592"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=21969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=21969"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=21969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}