• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Friday 8 August 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Summit Ascent reports positive EBITDA in 3Q20 on strong locals gaming at Russian casino Tigre de Cristal

Ben Blaschke by Ben Blaschke
Fri 30 Oct 2020 at 04:20
Summit Ascent Deputy Chairman John Wang steps down
12
SHARES
296
VIEWS
Print Friendly, PDF & Email

Hong Kong-listed Summit Ascent Holdings says it has returned to positive EBITDA at its Russian casino resort Tigre de Cristal, located in the Primorye Gambling Zone near Vladivistok, in August and September 2020 – driven by a rapid rebound in the slots and mass table segments.

Releasing a preliminary snapshot of its 3Q20 results overnight, Summit Ascent said that locals had ensured a rapid recovery following the reopening of casino operations in mid-July with slot volume already outperforming 1Q20 levels and table games back to 96% in terms of turnover.

Based on average monthly turnover, slots reached HK$268 million (US$34.6 million) versus HK$261 million (US$33.7 million) in the first quarter, while mass gaming table turnover was only slightly down from HK$45 million (US$5.8 million) to HK$43 million (US$5.5 million).

Slot win was flat at HK$13.0 million (US$1.7 million) while tables reached 81% of 1Q20 levels with win of HK$8.8 million (US$1.1 million), despite being closed for the first two weeks of the third quarter.

“TheGroup has recorded relatively good recovery in the mass table and slot businesses, primarily driven by local Russians, given that flights and visa application have not resumed yet,” Summit Ascent said in a filing.

“Based on preliminary unaudited operational financial figures, Tigre de Cristal has already turned EBITDA positive in both August and September 2020 because of the resilience of the mass table and slot businesses.

“This is the greatest indication that the Group is not solely reliant on foreign visitors. The local Russian market could already help Tigre de Cristal to stay afloat in a time when the travel ban is still in place.”

Summit Ascent is majority owned by Suncity group, which earlier this month increased its stake from 24.74% to 69.66% as part of a rights issue and at a cost of just under US$160 million.

RelatedPosts

IGT to unveil comprehensive game portfolio, new jackpots at Australasian Gaming Expo

IGT to unveil comprehensive game portfolio, new jackpots at Australasian Gaming Expo

Fri 8 Aug 2025 at 12:56
Filipino maintenance worker passes away in Wynn Palace work-related accident

Low VIP hold hurts Wynn Macau’s 2Q25 results as operating revenues hit US$883 million

Fri 8 Aug 2025 at 05:17
10 Years Ago: Rearing for a comeback

Resorts World Sentosa upgrade disruption sees 2Q25 gaming revenues fall 8% sequentially to US$313 million

Thu 7 Aug 2025 at 19:07
Light & Wonder reports lower revenue of US$809 million in 2Q25 on Asian market caution, lower costs boost profit

Light & Wonder reports lower revenue of US$809 million in 2Q25 on Asian market caution, lower costs boost profit

Thu 7 Aug 2025 at 05:17
Load More
Tags: casinoGamingMass tablesPrimorye Economic ZoneRussiaslot machinesSummit Ascent HoldingsTigre de CristalVladivostok
Share5Share1
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Better late than never

Editorial – Better late than never

by Ben Blaschke
Thu 31 Jul 2025 at 07:13

Inside Asian Gaming has in recent weeks been hearing increasing chatter around a possible move by Vietnamese authorities to introduce...

Angel’s Yasushi Shigeta

Angel’s Yasushi Shigeta

by Ben Blaschke
Thu 31 Jul 2025 at 07:08

Yasushi Shigeta, Chairman and owner of one of the world’s largest gaming industry suppliers, Angel Group, sits down with Inside...

The Magic Number

The Magic Number

by David Bonnet
Thu 31 Jul 2025 at 06:41

In this in-depth deep dive into the evolution of the Asian gaming landscape, David Bonnet argues that many regional jurisdictions...

Rashid Suliman – A road well traveled

Rashid Suliman – A road well traveled

by Ben Blaschke
Thu 31 Jul 2025 at 02:45

Rashid Suliman, Vice President of Global Gaming Asia-Pacific for casino solutions provider TransAct Technologies, provides some insight into his unique...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
HKUST
NWR

Related Posts

IGT to unveil comprehensive game portfolio, new jackpots at Australasian Gaming Expo

IGT to unveil comprehensive game portfolio, new jackpots at Australasian Gaming Expo

by Newsdesk
Fri 8 Aug 2025 at 12:56

IGT will showcase 10 new game families as well as a revamped jackpot strategy for the local ANZ market at the upcoming Australasian Gaming Expo (AGE) taking place at ICC Sydney from 12 to 14 August 2025. This will also...

Large-scale events center at Wynn Palace part of US$750 million worth of Macau project investments planned by Wynn through end-2026

Large-scale events center at Wynn Palace part of US$750 million worth of Macau project investments planned by Wynn through end-2026

by Ben Blaschke
Fri 8 Aug 2025 at 05:54

Wynn Macau Ltd is looking to spend up to US$750 million through the end of 2026 on a series of upgrade and expansion projects at its Macau resorts, including development of a new large-scale events center at Wynn Palace. The...

Filipino maintenance worker passes away in Wynn Palace work-related accident

Low VIP hold hurts Wynn Macau’s 2Q25 results as operating revenues hit US$883 million

by Ben Blaschke
Fri 8 Aug 2025 at 05:17

The Macau operations of Wynn Resorts Ltd generated operating revenues of US$883 million in the three months to 30 June 2025, basically flat with the same period in 2024 due in part to low hold across the board – particularly...

MGM China lives up to new 50% dividend payout policy as total 1H25 interim dividend payout declared at US$152 million

MGM China lives up to new 50% dividend payout policy as total 1H25 interim dividend payout declared at US$152 million

by Ben Blaschke
Fri 8 Aug 2025 at 04:59

MGM China on Thursday declared an interim dividend of HK$0.313 per share for the period ended on 30 June 2025, amounting to a total payout of HK$1.19 billion (US$152 million) and living up to its recently updated dividend policy by...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • English