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>> <div><div><font style="vertical-align: inherit;"><font style="vertical-align: inherit;">Summit Ascension Holdings Limited announced its interim financial results for the first half of the year, reporting total revenue of approximately $22.6 million, up 37% year-over-year, driven by strong performance from its exclusive Tigred Crystal performance venue.</font></font></div><div><br></div><div><font style="vertical-align: inherit;"><font style="vertical-align: inherit;">The Hong Kong-listed company detailed in an official filing (pdf) on Tuesday that its adjusted net income before interest, tax, depreciation and amortization for the six months ended Tuesday had jumped 249% year-on-year to $7.6 million, with related gross profit rising to $15.7 million. The operator also said the latter figure was significantly better than the $1 million loss it reported in the same period in 2021, with net income of nearly $10.9 million swinging to a profit.</font></font></div><div><br></div><div><font style="vertical-align: inherit;"><font style="vertical-align: inherit;">Domestic Dominance:</font></font></div><div><br></div><div><font style="vertical-align: inherit;"><font style="vertical-align: inherit;">Summit Ascension Holdings Limited, formerly known as Suncity Group Holdings Limited, is majority-owned by LET Group Holdings Limited, and Tigred Crystal Real Estate reported that its total gaming revenue for the first half of the year was up 36.6% year-on-year to just over $21.3 million, despite a sharp drop in the number of “non-Russian visitors.” It also claimed that while foreign guests accounted for 54.2% of these receipts in 2019, following the coronavirus pandemic, this percentage “fell to 20.9% and 0% in 2020 and 2021, respectively.”</font></font></div><div><br></div><div><font style="vertical-align: inherit;"><font style="vertical-align: inherit;">Current situation:</font></font></div><div><br></div><div><font style="vertical-align: inherit;"><font style="vertical-align: inherit;">Summit Ascent Holdings Limited, founded in 1993, owns a 69.66% stake in the 121-room Tigre Decristal casino located in the coastal city of Vladivostok, Russia, and noted that foreign gamblers did not contribute to rolling chip sales in the first half of the year. It also said the advent and impact of the coronavirus pandemic were driven by the emergence of several “adverse factors” that could have “changed from short-term to long-term.”</font></font></div><div><br></div><div><font style="vertical-align: inherit;"><font style="vertical-align: inherit;">The yield increases:</font></font></div><div><br></div><div><font style="vertical-align: inherit;"><font style="vertical-align: inherit;">However, the operator said public market gaming table revenue for the first half of the year was up 55.1% year-over-year to about $10.8 million, while related slot receipts were up 21.8% to about $10.5 million. The company said related hotel revenue was up 52.5%, with an average weekday hotel occupancy of 28% and an average weekend hotel occupancy of just under $1.3 million.</font></font></div><div><br></div><div><font style="vertical-align: inherit;"><font style="vertical-align: inherit;">Read the statement from Summit Ascension Holdings Limited...</font></font></div><div><br></div><div><font style="vertical-align: inherit;"><font style="vertical-align: inherit;">“While the Group’s Tigre Decristal integrated resorts in the Russian Far East are self-sustaining and operate without bank loans, Western sanctions resulting from the Russia-Ukraine conflict could have significant long-term damage to the Russian economy and tourism industry. The Board has been closely monitoring market developments, including potential geopolitical realignments, supply disruptions, and food and energy instability, and will continue to assess the impact on the Group’s financial position and operations.”</font></font></div></div><div><br></div><div><font style="vertical-align: inherit;"><font style="vertical-align: inherit;">Link </font></font><a href="https://www.powerballsite.com/" target="_blank" style="font-size: 10pt;">파워사다리</a></div>