Slots a winner for Russian casino operator

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Slots were the big winners for the Hong Kong-based Summit Ascent Holdings, operators of an integrated resort in Russia, according to the company’s annual report.

It said that the slots business outperformed the company’s other business sectors, with revenues of HK$185.6m (€22.1m), up 30 per cent. The rolling chip business saw an improvement with revenue increasing by 12 per cent from HK$109.5m (€13m) to HK$122.5m (€14.6m).

The largest single shareholder is now Suncity Group Holdings, following the disposal of the shareholding held by Kuo Jen Hao, then chairman.

The principal activity of Summit, through its 60 per cent equity interest in Oriental Regent,  is the operation of hotel and gaming business in the Integrated Entertainment Zone of the Primorye region in Russia. Its Tigre de Cristal, opened in 2015, is currently the only casino operating in the region. 

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From February 20 of this year, the Russian government implemented a temporary entry ban for Chinese nationals as a precaution against the spread of coronavirus. This affected the group’s visitation in early 2020.

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