{"id":28312,"date":"2022-03-23T06:36:22","date_gmt":"2022-03-23T09:36:22","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=28312"},"modified":"2026-04-23T10:18:14","modified_gmt":"2026-04-23T13:18:14","slug":"tigre-de-cristal-phase-ii-delayed-until-at-least-2025","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/tigre-de-cristal-phase-ii-delayed-until-at-least-2025","title":{"rendered":"Tigre de Cristal Phase II delayed until at least 2025"},"content":{"rendered":"\n

Summit Ascent Holdings has said that the Tigre de Cristal Phase II development will be postponed until 2025 due to economic uncertainties and travel restrictions related to the Covid-19 pandemic.<\/p>\n\n\n\n\n\n\n\n

Russia.- Summit Ascent Holdings has revealed in its latest financial report that\u00a0Tigre de Cristal Phase II<\/strong> in the Primorye Gambling Zone in Russia has been postponed until \u201cno earlier than 2025\u201d due to the negative impact of the Covid-19 pandemic, travel restrictions and economic uncertainties.<\/p>\n\n\n\n

The target launch of\u00a0Tigre de Cristal Phase II<\/a>\u00a0had already been\u00a0postponed to 2023\u00a0last April owing to several delays due to the Covid-19 pandemic. The company is now also concerned about the\u00a0economic sanctions against the Russian Federation\u00a0<\/strong>due to its invasion of Ukraine conflict and how they could affect capital investment in Tigre de Cristal.<\/p>\n\n\n\n

However,\u00a0Summit Ascent<\/strong>\u00a0said the existing phase 1 of the casino resort continued to operate and had been \u201cself-sustaining without any bank borrowings\u201d.<\/p>\n\n\n\n

It added: \u201cWe shall have to adjust our operations to the reality of a volatile business environment and try to find ways to do business within the new constraints we may face including, but not limited to, the payment platform for further capital investment for the Tigre de Cristal Phase II, loan repayment and dividend repatriation to its parent companies in Hong Kong, settlements with the overseas customers, suppliers and service providers, and the increased operating costs due to the inflation and supply-chain disruptions.\u201d<\/p>\n\n\n\n

Summit Ascent\u2019s\u00a0Tigre de Cristal<\/strong>, opened to the public in 2015 as the first casino resort in Primorye. It was followed almost five years later by\u00a0Shambhala<\/a>, which opened at the height of the Covid-19 pandemic.<\/p>\n","protected":false},"excerpt":{"rendered":"

Summit Ascent Holdings has said that the Tigre de Cristal Phase II development will be postponed until 2025 due to economic uncertainties and travel restrictions related to the Covid-19 pandemic.<\/p>\n","protected":false},"author":176,"featured_media":22706,"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 has deferred the Tigre de Cristal Phase II development until 2025, citing economic uncertainties, lingering COVID-19 travel restrictions, and concerns over the impact of sanctions against Russia. The company faces challenges related to capital investment, payment platforms, and operational costs, though its existing Phase I remains self-sustaining.","focusai_entities":"Summit Ascent Holdings, Tigre de Cristal, Shambhala, Russian Federation","focusai_location":"Russia, Primorye Gambling Zone, Hong Kong, Ukraine","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), compliance_legal (0.9), operator_casino (0.9), tech_data (0.7), payments_fraud_aml (0.95), investor_analyst (0.95), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Sanctions Impact Analysis","query":"What specific payment platform alternatives is Summit Ascent exploring to mitigate the impact of sanctions on capital investment and cross-border financial flows for Tigre de Cristal Phase II?"},{"label":"Capital Allocation Strategy","query":"How will the prolonged delay of Tigre de Cristal Phase II impact Summit Ascent's broader capital allocation strategy and its investment priorities in other potential growth markets?"}],"footnotes":""},"categories":[157,16331],"tags":[23701,22436],"class_list":["post-28312","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-elsewhere-news","tag-summit-ascent","tag-tigre-de-cristal"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28312","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=28312"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28312\/revisions"}],"predecessor-version":[{"id":28323,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28312\/revisions\/28323"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/22706"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=28312"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=28312"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=28312"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}