Wednesday, October 05, 2022

Tigre de Cristal resort grand opening delayed to late October


Summit Ascent Holdings announced that the grand opening of its casino development in Russia has been delayed to late October, with a soft opening scheduled for October 8.

The resort, The Tigre de Cristal, being developed by Summit’s subsidiary G1 Entertainment LLC within the Integrated Entertainment Zone of the Primorye region has encountered construction setbacks.

“While construction is substantially complete, customs delays resulted in slower than expected delivery of certain final fit out materials (e.g. bar fixtures and fittings). In addition, commissioning of HVAC (heating, ventilation and air conditioning) and some other building systems proved to be more time consuming than previously surmised.” 

“The above factors and our commitment to full compliance with Russian commissioning procedures and regulations resulted in unforeseen delays in the completion of the final fit out works and consequently later than expected handover of some key areas of the building to operations.”

Despite the delays, Summit says the operating company has maintained stringent cost controls and does not expect any material budget overruns. 

Summit Ascent has said in previous filings that the resort would have 25 VIP gaming tables, 800 slot machines and 119 hotel rooms.

 

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