Crimea casino is discarded

Summit Ascent Holdings denied the rumor of an investment in Crimea.

Russia.- Last week the gaming industry was pending on a new rumor that suggested Crimea as the next possible casino hub for Asia and Eastern European communities. The owner of SJM Holdings and Summit Ascent Holdings was noted as a potential investor on the conflicted territory.

After Russia made public the plan of establishing a gambling zone in Crimea, Stanley Ho, “The King of Gambling” and head of both gaming companies was named as the number one interested investor in developing the hub.

However, yesterday Summit Ascent Holdings has denied any projects to boost gaming industry in Crimea and Sochi, as the press suggested last week. In a statement released to Betting Business Russia, Summit Ascent executive director Craig Ballantyne, said the company was “definitely not planning to invest in the gambling zones located in the Republic of Crimea and Sochi.”

The rumour started after an off-the record statement released by a high-profile source in the Russian-Chinese business circle. “When it was clear that Crimea became part of Russia and the authorities intended to set up a gaming zone there, the interest in it increased,” had revealed the private source.