Summit Ascent Holdings

    Summit Ascent Holdings Limited (Formerly known as Arnhold Holdings Limited) (the “Company”) was founded in 1993 and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited since 10 January 1994 (Stock Code: 102). The principal activity of the Company is investment holding with our major project being integrated resort development in the Russian Far East near the beautiful seaside city of Vladivostok. Through its operational subsidiaries, the Group has a legacy business that is engaged in trading of tiles and engineering operations products.

    Related Articles

    Tigre de Cristal Phase II opening in 2022

    The second phase of the Tigre de Cristal’s development in the Primorye Gaming Zone in the Russian Far East is now likely to open in early 2022 following changes to its design, owner Summit Ascent said. 

    Summit Ascent raising funds to develop Tigre de Cristal

    Summit Ascent Holdings Limited (Formerly known as Arnhold Holdings Limited) (the “Company”) was founded in 1993 and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited since 10 January 1994 (Stock Code: 102). The principal activity of the Company is investment holding with our major project being integrated […]
    Tigre de Cristal

    Summit Ascent expects interim profit

    Summit Ascent Holdings, the operator of the Tigre de Cristal, in Russia’s Primorye gaming zone, said it expects to post a profit for the first half of this year, compared with a loss the same period in 2018. 

    Alvin Chau named chairman of Summit Ascent Holdings

    Summit Ascent Holdings Limited (Formerly known as Arnhold Holdings Limited) (the “Company”) was founded in 1993 and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited since 10 January 1994 (Stock Code: 102). The principal activity of the Company is investment holding with our major project being integrated […]
    Tigre de Cristal

    Summit Ascent announces board changes after Suncity hikes stake

    Summit Ascent Holdings has announced board room changes after Suncity Group Holdings increased its stake in the operator of Tigre de Cristal earlier this month.

    Suncity ups stake in Summit Ascent to almost 28 percent

    Suncity Group Holdings has bought a further 24.68 percent stake in Summit Ascent Holdings for HK$717.8 million ($91.5 million) as it seeks to build an “integrated tourism-related platform.”

    Summit Ascent deputy chair resigns

    Summit Ascent said its executive director and deputy chairman John Wang has resigned to pursue other business interests with effect from April 12.

    First Steamship mulling Summit Ascent stake sale

    First Steamship Co. is considering an approach to buy its entire stake in Summit Ascent Holdings, saying a potential gain would help boost the group’s earnings.

    Summit Ascent main shareholders mull share disposal

    Summit Ascent Holdings Limited (Formerly known as Arnhold Holdings Limited) (the “Company”) was founded in 1993 and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited since 10 January 1994 (Stock Code: 102). The principal activity of the Company is investment holding with our major project being integrated […]

    Mass earnings overtakes VIP at Tigre De Cristal

    Summit Ascent Holdings Limited (Formerly known as Arnhold Holdings Limited) (the “Company”) was founded in 1993 and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited since 10 January 1994 (Stock Code: 102). The principal activity of the Company is investment holding with our major project being integrated […]

    Tigre De Cristal second phase to focus on non-gaming

    Summit Ascent Holdings Limited (Formerly known as Arnhold Holdings Limited) (the “Company”) was founded in 1993 and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited since 10 January 1994 (Stock Code: 102). The principal activity of the Company is investment holding with our major project being integrated […]

    Russia does u-turn on casino tax collection

    Summit Ascent Holdings Limited (Formerly known as Arnhold Holdings Limited) (the “Company”) was founded in 1993 and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited since 10 January 1994 (Stock Code: 102). The principal activity of the Company is investment holding with our major project being integrated […]

    Melco finalizes Cyprus accord, boosts stake

    Summit Ascent Holdings Limited (Formerly known as Arnhold Holdings Limited) (the “Company”) was founded in 1993 and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited since 10 January 1994 (Stock Code: 102). The principal activity of the Company is investment holding with our major project being integrated […]

    Lawrence Ho divests Summit Ascent stake

    Summit Ascent Holdings Limited (Formerly known as Arnhold Holdings Limited) (the “Company”) was founded in 1993 and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited since 10 January 1994 (Stock Code: 102). The principal activity of the Company is investment holding with our major project being integrated […]

    Summit warns of Russian tax hike

    Summit Ascent Holdings Limited (Formerly known as Arnhold Holdings Limited) (the “Company”) was founded in 1993 and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited since 10 January 1994 (Stock Code: 102). The principal activity of the Company is investment holding with our major project being integrated […]

    Craig Ballantyne resigns as COO of Summit Ascent

    Summit Ascent Holdings Limited (Formerly known as Arnhold Holdings Limited) (the “Company”) was founded in 1993 and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited since 10 January 1994 (Stock Code: 102). The principal activity of the Company is investment holding with our major project being integrated […]
    Tigre de Cristal

    VIP surge drives Summit Ascent 17H1 revenue

    Summit Ascent Holdings Limited (Formerly known as Arnhold Holdings Limited) (the “Company”) was founded in 1993 and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited since 10 January 1994 (Stock Code: 102). The principal activity of the Company is investment holding with our major project being integrated […]

    Tigre to enjoy monopoly for at least two more years

    Summit Ascent Holdings Limited (Formerly known as Arnhold Holdings Limited) (the “Company”) was founded in 1993 and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited since 10 January 1994 (Stock Code: 102). The principal activity of the Company is investment holding with our major project being integrated […]

    Royal Time Primorye project in trouble after court ruling

    Summit Ascent Holdings Limited (Formerly known as Arnhold Holdings Limited) (the “Company”) was founded in 1993 and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited since 10 January 1994 (Stock Code: 102). The principal activity of the Company is investment holding with our major project being integrated […]

    Summit Ascent swings to profit in 2016

    Summit Ascent Holdings Limited (Formerly known as Arnhold Holdings Limited) (the “Company”) was founded in 1993 and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited since 10 January 1994 (Stock Code: 102). The principal activity of the Company is investment holding with our major project being integrated […]

    Tigre de Cristal welcomed over 200,000 visitors in 2016

    Summit Ascent Holdings Limited (Formerly known as Arnhold Holdings Limited) (the “Company”) was founded in 1993 and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited since 10 January 1994 (Stock Code: 102). The principal activity of the Company is investment holding with our major project being integrated […]

    VIP to drive Tigre De Cristal earnings

    Summit Ascent Holdings Limited (Formerly known as Arnhold Holdings Limited) (the “Company”) was founded in 1993 and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited since 10 January 1994 (Stock Code: 102). The principal activity of the Company is investment holding with our major project being integrated […]

    Tigre de Cristal yields $8 million in tax

    Summit Ascent Holdings Limited (Formerly known as Arnhold Holdings Limited) (the “Company”) was founded in 1993 and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited since 10 January 1994 (Stock Code: 102). The principal activity of the Company is investment holding with our major project being integrated […]

    No plans for Crimea: Summit Ascent

    Summit Ascent Holdings Limited (Formerly known as Arnhold Holdings Limited) (the “Company”) was founded in 1993 and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited since 10 January 1994 (Stock Code: 102). The principal activity of the Company is investment holding with our major project being integrated […]

    Overseas VIP gaming revenue outpaces Macau in 16Q2

    Summit Ascent Holdings Limited (Formerly known as Arnhold Holdings Limited) (the “Company”) was founded in 1993 and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited since 10 January 1994 (Stock Code: 102). The principal activity of the Company is investment holding with our major project being integrated […]

    Melco International posts 90-fold profit rise after Melco control

    Summit Ascent Holdings Limited (Formerly known as Arnhold Holdings Limited) (the “Company”) was founded in 1993 and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited since 10 January 1994 (Stock Code: 102). The principal activity of the Company is investment holding with our major project being integrated […]

    Oriental Regent gains board control of Tigre De Cristal

    Summit Ascent Holdings Limited (Formerly known as Arnhold Holdings Limited) (the “Company”) was founded in 1993 and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited since 10 January 1994 (Stock Code: 102). The principal activity of the Company is investment holding with our major project being integrated […]

    Summit Ascent Holdings reports loss due to pre-opening expenses

    Summit Ascent Holdings Limited (Formerly known as Arnhold Holdings Limited) (the “Company”) was founded in 1993 and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited since 10 January 1994 (Stock Code: 102). The principal activity of the Company is investment holding with our major project being integrated […]

    Primorye sets new conditions for future investors

    Summit Ascent Holdings Limited (Formerly known as Arnhold Holdings Limited) (the “Company”) was founded in 1993 and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited since 10 January 1994 (Stock Code: 102). The principal activity of the Company is investment holding with our major project being integrated […]

    Russia’s Tigre de Cristal project presented at Eastern Economic Forum

    Summit Ascent Holdings Limited (Formerly known as Arnhold Holdings Limited) (the “Company”) was founded in 1993 and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited since 10 January 1994 (Stock Code: 102). The principal activity of the Company is investment holding with our major project being integrated […]

    Tigre de Cristal resort grand opening delayed to late October

    Summit Ascent Holdings Limited (Formerly known as Arnhold Holdings Limited) (the “Company”) was founded in 1993 and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited since 10 January 1994 (Stock Code: 102). The principal activity of the Company is investment holding with our major project being integrated […]

    Summit Ascent completes hiring for Russia project, sees Aug. opening

    Summit Ascent Holdings Limited (Formerly known as Arnhold Holdings Limited) (the “Company”) was founded in 1993 and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited since 10 January 1994 (Stock Code: 102). The principal activity of the Company is investment holding with our major project being integrated […]

    Summit Ascent close to completing Russia resort

    Summit Ascent Holdings Limited (Formerly known as Arnhold Holdings Limited) (the “Company”) was founded in 1993 and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited since 10 January 1994 (Stock Code: 102). The principal activity of the Company is investment holding with our major project being integrated […]

    Summit Ascent spends $3.2m on EGMs for Russia venture

    Summit Ascent Holdings Limited (Formerly known as Arnhold Holdings Limited) (the “Company”) was founded in 1993 and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited since 10 January 1994 (Stock Code: 102). The principal activity of the Company is investment holding with our major project being integrated […]

    Korean firms eye Primorye zone

    Summit Ascent Holdings Limited (Formerly known as Arnhold Holdings Limited) (the “Company”) was founded in 1993 and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited since 10 January 1994 (Stock Code: 102). The principal activity of the Company is investment holding with our major project being integrated […]

    Investors dodge tax bullet, discuss development plans

    Operators in Russia’s Far East have won a reprieve from a potentially punishing new tax regime and are now discussing further development plans with the government of the zone. In the interests of long-term investment, Primorye chose to leave taxes unchanged. It now hopes to attract further investors through land auctions this summer and to introduce more non-gaming elements. 

    Tax changes rock Russia’s gambling sector

    Russia has passed a bill that doubles tax rates for both land-based casinos and bookmakers, with even more hikes in the pipeline, raising concern the ever shifting sands of regulation are changing the outlook for the industry and threatening foreign investment. Steve Gallaway, managing partner at Global Market Advisors, says the “changes to the tax regime are devastating for the IEZ (Integrated Entertainment Zone) in Primorye,” referring to the most developed of Russia’s gaming zones.

    Primorye picks up development pace

    The Russian gambling zone of Primorye, which has not been developing as fast as anticipated, is stepping up its efforts to attract more investors as part of an ambitious plan to almost treble visitor numbers by 2025. The company developing the zone is seeking expressions of interest to auction three plots of vacant land and has held talks with groups from Russia, Europe and China.

    Casinos debut amid talk of new zones

    Russia’s southern and western gaming zones have seen a flurry of activity over the past few months, while reports have emerged of new areas being considered for casino investment. Moscow designated four zones for casino gambling in 2009 in remote locations on the fringes of the country and outlawed gambling anywhere else. Since then, the zones have been expanded to six to include the Crimea and Sochi, the home of the 2014 Winter Olympics. While one of the original zones -- Azov City -- is expected to be closed down. According to reports more zones may be on the cards, raising question marks over the shifting sands of Russian regulation for foreign investors.

    Tigre de Cristal eyes non-gaming to lure local crowds

    Tigre de Cristal, Russia’s biggest casino, is focusing on its non-gaming attractions to boost revenue following lower-than-expected demand from locals for its casino offering. While the resort is primarily targeting visitors from Northern China for growth, at present the tourism infrastructure is lacking, forcing a greater focus on the domestic market, experts say. 

    Gaming zones struggle with bureaucracy, lack of infrastructure

    The tenth Russian Gaming Week conference was held in Moscow earlier this month, but a promised focus on the country’s land-based industry failed to materialize. Organizers had scheduled discussions on the often confusing and ever-shifting situation in Russia’s gambling zones on the second day of the conference, but the program was replaced by a set of marketing presentations, with no explanation given. Despite the high-profile launch of Summit Ascent’s Tigre de Cristal in Primorye last year, experts say the reality is that the zones in Russia are struggling. Samoil Binder, Deputy Head of the Russian Association of Gambling Business, said the situation is “deplorable.”

    Tax hike proposal gambles with Russian casino prospects

    Russian gambling industry executives have lambasted a Finance Ministry proposal to raise gaming taxes, saying that such an initiative would "destroy the gambling business." To date, one of Russia's key draws for foreign investors has been its low taxation rate. If taxes rise tenfold as proposed, the industry will come to a standstill, participants say. 

    “One Belt, One Road” to drive tourism/casino growth

    While Beijing’s anti-corruption drive has often been blamed as a primary factor behind the slump in Macau’s gaming revenue, the same regime is also responsible for proposing and supporting another initiative that may have widespread implications for the development of the Asian gaming industry -- the “One Belt and One Road” project. The plan to develop the old Silk Road linking Asia to Europe is likely to provide a significant boost to tourism in tandem with the gaming industry.

    Tigre de Cristal counts on unique position, tourism under penetration

    Summit Ascent Holdings is counting on the under penetration of the North Asian markets and its head start in the Primorye gaming zone to ensure the success of its new Tigre de Cristal property in Russia’s Far East. Speaking to AGB, Eric Landheer, Director - Corporate Finance and Strategy of Summit Ascent Holdings says the resort has a unique market position and is one of the only true integrated resorts in northern Asia. 

    Can Siberia’s Tigre de Cristal roar in Russia’s Far East?

    The first casino in Russia’s Far East, which has been touted as a potential Macau of the north, has officially opened after lengthy delays.The Tigre de Cristal held its soft launch on Oct. 8th in the Primorye gaming zone near the city of Vladivostok. The debut of the casino has been postponed multiple times since 2011, but the pace of development picked up when Asian investors became involved in the project in 2013. The resort is expected to appeal mainly to travellers from northern China and Korea, although unlike in many other Asian countries locals will also be able to participate. About 300 million people live within a three-hour flight of Vladivostok. 

    Operators upbeat on Russia despite regulatory uncertainty

    Potential investors say they remain upbeat about the prospects for Russia’s gaming zones, despite continuing regulatory uncertainty and the unpredictability of the government, which abruptly announced the shutdown of the Azov area earlier this year. Russian Gaming Week, held in Moscow from June 3-4, attracted about 4,000 attendees, double the number of the prior year.

    Primorye activity heats up, with $1.1b in planned new investment

    The gambling zone of Primorye in Russia’s Far East continues to pull ahead of rivals, with the expected summer opening of Summit Ascent’s integrated resort and news of two other major investments worth more than $1 billion. 
    SHARE