The Primorye gambling zone saw a 24 percent drop in resort attendance in 2020 due to the pandemic, but authorities are optimistic about the future and have no intention of changing the long-term plans for the hub.
Summit Ascent Holdings said that staff in Tigre de Cristal near Vladivostok has started to receive Russia’s self-developed Sputnik V COVID-19 vaccination.
A local media organization carried out an investigation of illegal slot machines operating in Primorye, Russia, which are disguised as payment terminals.
Locals seeking staycations are likely to provide strong support for Summit Ascent in the short term until international travel resumes, Citic Securities analysts wrote in a note.
Brokerage house Credit Suisse has initiated coverage of Summit Ascent Holdings, giving the firm a strong vote of confidence due to the backing of major shareholder Suncity Group, with gross gambling revenue projected to surge 349 percent next year.
Summit Ascent and the Suncity Group have jointly announced that they intend to raise their controlling stake in Oriental Regent Limited (ORL), operator of the Tigre de Cristal resort in Primorye, by a further 10 percent to 77.5 percent.
The Russian Far East has hosted the Tigre de Cristal casino since 2015, but with the grand opening of Shambala on October 16, Primorye is now truly a gambling zone in competition with its regional neighbors.
Summit Ascent Holdings has reiterated that it is preparing at least US$200 million in investment funds for the Tigre de Cristal second phase development.
Summit Ascent Holdings has reiterated that it is preparing an additional US$200 million in investment funds for the Tigre de Cristal second phase development.
Deputy Prime Minister of Primorye Konstantin Shestakov celebrated the results of casino development in the Russian Far East on Friday, even as he revealed that construction at the NagaCorp facility was suspended over the Covid-19 impact.