Suncity Group Holdings increases its stake in Summit Ascent

Hong Kong-based Suncity Group Holdings announced that the operator has increased its stake in Summit Ascent Holdings to 69.66%.

Summit Ascent is the majority owner of Russian based casino Tigre de Cristal. Suncity have designed a major expansion for the Tigre de Cristal that is set to include doubling the number of tables and slot machines, as well as a substantial increase in the number of hotel rooms. The estimated cost of the expansion is set to be close to $200 million.

Suncity are looking to take advantage of the traffic to Vladivostok; actively targeting players in the East Asian markets of South Korea, Japan and China. Suncity has proposed to open a new VIP room at the Tigre de Cristal once COVID-19 social distancing restrictions have eased.

Alvin Chau, chairman of Suncity Group was delighted with the positive growth of the Hong Kong-based firm.

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