Summit Ascent reaches accord with Macau junket

Summit Ascent, the developer of a gaming property in Vladivostok that will target VIPs from northern China, has signed a deal with one of the largest junkets in Macau, UBS said in a note.
The company expects to announce a deal soon and sees one large junket as enough to fill the tables at their property. Summit will pay a 60 percent revenue share, or 1.7 percent of drop, compared with 1.7 percent in Macau.
Vladivostok has a low tax rate, one of the lowest in the gambling world, making it possible to pay higher commissions.
Summit recently said it has pushed back the opening of the casino to the first quarter of next year due to unforeseen construction delays, meaning the opening will be at least a year behind schedule.

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