{"id":777031049,"date":"2025-09-01T12:07:32","date_gmt":"2025-09-01T15:07:32","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777031049"},"modified":"2026-04-21T19:36:33","modified_gmt":"2026-04-21T22:36:33","slug":"let-group-sees-69-profit-rise-in-first-half-of-2025","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/let-group-sees-69-profit-rise-in-first-half-of-2025","title":{"rendered":"LET Group sees 69% profit rise in first half of 2025"},"content":{"rendered":"\n

Revenue was driven by Tigre de Cristal.<\/p>\n\n\n\n\n\n\n\n

Hong Kong.- The casino investor LET Group Holdings has reported a strong first half of 2025, with profit attributable to equity holders rising 69 per cent year-on-year to HKD99.5m (US$12.8m). Revenue grew 65 per cent to HKD312.9m (US$40.1m). This was driven by the company’s 77.5 per cent stake in the Tigre de Cristal resort in Russia, which saw a 12 per cent revenue increase to HKD212.8m (US$27.3m).<\/p>\n\n\n\n

LET Group\u2019s adjusted EBITDA reached HKD32.5m (US$4.1m), up from HKD9.7m (US$1.2m) a year earlier. Its subsidiary, Summit Ascent Holdings Ltd, reported a 29.7 per cent profit increase to HKD202.9m (US$26m). However, the company defaulted on a HKD137.5m (US$17.6m) loan repayment.<\/p>\n\n\n\n

The group is an investor in the Westside City project in Manila, Philippines, where its subsidiary Suntrust Resort Holdings Inc. is to manage a five-star hotel and casino complex, now slated for completion in Q3 2026. LET Group said it may require additional funding to complete the project. However, it said it remains optimistic about liquidity and its ability to meet financial obligations over the next 12 months.<\/p>\n\n\n\n

Both LET Group and Summit Ascent were delisted from the Hong Kong Stock Exchange on September 1, 2025<\/a>, after failing to meet listing requirements following board member resignations. <\/p>\n\n\n

\n\t\t\tSee also:<\/span><\/p>\n
\n\t\t\t\t\"\"<\/p>\n

\n\t\t\t\t\tSee also:<\/span> Macau Legend warns of US$182m loss ahead of satellite casino closure<\/a>\n\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

Revenue was driven by Tigre de Cristal.<\/p>\n","protected":false},"author":680,"featured_media":8464,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"LET Group Holdings reported robust H1 2025 financial performance, driven by its Tigre de Cristal resort, with significant increases in profit and revenue. However, the group faces critical challenges including a loan default, potential funding shortfalls for its Westside City project in Manila, and the delisting of both LET Group and its subsidiary Summit Ascent from the Hong Kong Stock Exchange due to governance issues.","focusai_entities":"LET Group Holdings, Tigre de Cristal, Summit Ascent Holdings Ltd, Suntrust Resort Holdings Inc., Macau Legend","focusai_location":"Hong Kong, Russia, Manila, Philippines","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.9), operator_casino (0.8), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Governance Delisting Impact?","query":"What are the specific governance failures that led to the delisting of LET Group and Summit Ascent from the HKEX, and what are the implications for future capital market access?"},{"label":"Manila Project Viability?","query":"How does the loan default and potential funding shortfall for the Westside City project impact its long-term viability and the competitive landscape in the Manila gaming vertical?"}],"footnotes":""},"categories":[157,16338],"tags":[1619,24197,2054],"class_list":["post-777031049","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-hong-kong","tag-let-group-holdings","tag-revenue"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777031049","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\/680"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777031049"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777031049\/revisions"}],"predecessor-version":[{"id":777031094,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777031049\/revisions\/777031094"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/8464"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777031049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777031049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777031049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}