Summit Ascent Holding Ltd., controlled by gaming entrepreneur Lawrence Ho, announced last week that the integrated Tigre De Crystal resort in Russia's Primorsky Krai will open smoothly.
In a late filing to the Hong Kong Stock Exchange , the company said: 'We now expect to open the property smoothly . The massive opening of properties, including hotels, is expected to take place at the end of' he wrote
G1 Entertainment LLC, formerly known as East LLC's First Gambling Co., now a subsidiary of Summit Ascent, announced in a May announcement that projects near Vladivostok in Russia's Far Eastern Maritime District will open.
According to the documents submitted by the company, 'Tiger's Crystal property is under final fit-out and consignment of operations, and is undergoing a government building approval process at the same time.'
According to its subsidiary Summit Accent, no material budget overruns are expected to occur because it has maintained strict cost controls, so external fundraising will not be required. "We remain optimistic about the prospects of the Russian Far East project and appreciate the continued support from our stakeholders and partners as our opening date approaches," the subsidiary said
Tiger De Cristal Integrated Resort and Casino, the first of four known participants in the Russian Federation's Promory Gambling Zone, is expected to offer 119 hotel rooms and accommodate 25 VIP game tables, 800 slots and 40 public market game tables.