Hong Kong-listed Summit Ascent Holdings, developer and operator of integrated resorts in the Russian far east, reveals that the first half of 2018 saw increase of 17 per cent to HK$66.8m (€7.3m) in adjusted EBITDA.
Total revenue was HK$207.8m (€22.7m), up two per cent, and profit was HK$2.6m (€284,000), compared with a loss of HK$5.4m (€590,000).
The company, operating the Tigre de Cristal majority-owned integrated resort in Vladivostok, said that table business saw a significant improvement with revenue up 47 per cent to HK$83.5m (€9.1m).
The resort is in the Primorye Integrated Entertainment Zone of the Russian far east, one of five designated zones in Russia in which gaming and casino activities are permitted. The group is now working on the opening of phase two of its second location towards the end of 2020.
Tigre de Cristal has 36,000sq.m of gaming and hotel space, with 121 luxury rooms and suites, two restaurants, four bars, spa and health club, retail and gaming facilities.
Most of the location’s visitors come from Korea, Japan and north-east China. It has 30 VIP gaming tables, 33 mass market gaming tables and 290 slots. In its phase two proposals there would be another hotel with 250 rooms, 25 VIP gaming tables, 25 mass market gaming tables and 250 slots.
