July 16, 2020

Summit Ascent allowed to reopen Tigre de Cristal

Summit Ascent allowed to reopen Tigre de Cristal

Russia –Summit Ascent Holdings Ltd. was given permission by the Governr of Primorsky Krai to reopen Tigre de Cristal, its Russian casino, today.

According to a filing dated on Wednesday, the reopening will not only witness the return of employees of gaming and F&B facilities, but also to allow upgrade works at Tigre de Cristal to continue. The upgrade, once complete, comes with 30 new hotel rooms, a brand new Suncity VIP room and authentic Korean and Chinese restaurants.

Suncity Group is Summit Ascent’s largest single shareholder after acquiring 24.74% stake in 2019. It is also in the process of increasing its stake to almost 70%.

The reopening of Tigre de Cristal will include the implementation of a range of health and safety measures meant to prevent the spread of Covid-19. This includes mandatory wearing of face masks for all employees and guests, observing social distancing on the gaming floors, temperature checks at entrances, and capped seating capacity at bars and restaurants.

Tigre de Cristal has been closed since March 28.

According to Summit Ascent:

“As borders are still not yet fully opened, the Group will continue to focus on the Group’s strength previously—the local market.”

“Since Covid-19 started, the Group has rolled out stringent cost control measures, such as offsetting unused annual leave entitlements, unpaid leaves, cutting travel expenses and renegotiating contracts with subcontractors.

“The Group has been a responsible corporate citizen and has been trying its best to support the Russian Government’s call to maintain local employment. As of today, the Group has not laid off any employees during this Covid-19 crisis,” it added.

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