{"id":28127,"date":"2022-03-16T08:06:29","date_gmt":"2022-03-16T11:06:29","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=28127"},"modified":"2026-04-23T10:29:16","modified_gmt":"2026-04-23T13:29:16","slug":"summit-ascent-expects-to-post-26-increase-in-revenue-for-2021","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/summit-ascent-expects-to-post-26-increase-in-revenue-for-2021","title":{"rendered":"Summit Ascent expects to post 26% increase in revenue for 2021"},"content":{"rendered":"\n

Summit Ascent Holdings has announced it expects to record an increase in revenue and adjusted EBITDA of nearly HK$40.9m (US$5.2m) for the year ended December 31.<\/p>\n\n\n\n\n\n\n\n

The Philippines.-\u00a0Summit Ascent Holdings Ltd\u00a0<\/strong>expects revenue to be up 26 per cent for 2021 with positive adjusted EBITDA of nearly HK$40.9m (US$5.2m), compared with a loss of HK$14.7m in 2020.<\/p>\n\n\n\n

The company expects to record a net loss of no less than HK$273.8m (US$35m)<\/strong>, compared with a loss of HK$47.8m in 2020, due to fair value losses on derivative financial instruments and impairment of property, plant and equipment.<\/p>\n\n\n\n

The company, which operates\u00a0Tigre de Cristal<\/a>\u00a0in the Primorye Gambling Zone in Russia, also revealed it has been monitoring the impact of Russia\u2019s invasion of Ukraine, including fluctuations in the Russian ruble and interest rates.<\/p>\n\n\n\n

The company stated: \u201cThe board will continue to assess the impact of economic sanctions against the Russian Federation <\/strong>on the financial position and operations of the group, and will make further announcements if and when it is necessary.\u201d<\/p>\n\n\n\n

See also: <\/strong>Russia sanctions likely led NagaCorp to halt Vladivostok resort<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Summit Ascent Holdings has announced it expects to record an increase in revenue and adjusted EBITDA of nearly HK$40.9m (US$5.2m) for the year ended December 31.<\/p>\n","protected":false},"author":176,"featured_media":25402,"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 expects a 26% revenue increase and positive adjusted EBITDA of HK$40.9m for 2021, a significant improvement from the prior year's loss. However, the company anticipates a net loss exceeding HK$273.8m due to fair value losses on derivative financial instruments and asset impairment. The operator is actively monitoring the financial impact of the Russia-Ukraine conflict and associated economic sanctions on its Tigre de Cristal operations.","focusai_entities":"Summit Ascent Holdings, Summit Ascent Holdings Ltd, Tigre de Cristal, NagaCorp","focusai_location":"Philippines, Russia, Ukraine, Vladivostok, Primorye Gambling Zone","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.9), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Sanctions Impact Mitigation","query":"What specific governance frameworks and risk mitigation strategies is Summit Ascent Holdings implementing to navigate the escalating economic sanctions against the Russian Federation and their potential long-term impact on the Tigre de Cristal's operational viability and capital structure?"},{"label":"Asset Impairment Analysis","query":"Beyond the fair value losses on derivative financial instruments, what specific property, plant, and equipment assets were subject to impairment, and what valuation methodologies were applied given the current geopolitical and economic uncertainties in the Primorye Gambling Zone?"}],"footnotes":""},"categories":[157,158,16333],"tags":[22436],"class_list":["post-28127","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-slider-home","category-south-east-asia-news","tag-tigre-de-cristal"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28127","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=28127"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28127\/revisions"}],"predecessor-version":[{"id":28159,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28127\/revisions\/28159"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25402"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=28127"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=28127"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=28127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}