Asia
Summit Ascent Increases its Stake in Tigre de Cristal

Suncity Group Holdings Limited has announced that its majority-owned subsidiary Summit Ascent Holdings will increase its stake in Tigre de Cristal from 60% to 67.5%, after acquiring shares from two minority shareholders of Oriental Regent Limited (ORL), the sole owner of Tigre de Cristal; and, may further increase to approximately 89.29% if Summit Ascent is the only subscriber of the proposed new issue of ORL.
The planning and design of Tigre de Cristal Phase II is well under way, as such, each shareholder of ORL should pay for its respective share of capital expenditure to build Phase II. The share acquisitions, through convertible bonds (5-year zero-coupon at a conversion price of HK$3.50 per conversion share) and cash, by Summit Ascent, as well as the proposed new issue of ORL, can be interpreted as a strong support from the major shareholder Suncity.
“The potential to acquire further stakes in Tigre de Cristal is a strong injection in confidence that both Suncity and Summit Ascent are fully motivated to drive up business volumes in Tigre de Cristal. Besides, the outstanding recovery post-closure was as astounding as it seems during one of the worst business challenges in this pandemic – a solid proof that we could sustain in hard times with local businesses only. Going forward, both Suncity and Summit Ascent will continue to tap into the under-served Korean and Japanese markets in the future,” Mr. Chau Cheok Wa, Chairman of Suncity and Summit Ascent, said.
-
Interviews6 days ago
Crash Test for iGaming Projects: SOFTSWISS on Why High Load Performance Defines Operator Success
-
Asia5 days ago
MelBet Announces Monami Ghosh as its New Brand Ambassador
-
Blockchain5 days ago
Best Crypto Casinos: Top 5 Crypto Gambling Sites To Play In July 2025 (BTC, Ethereum, Litecoin, Etc)
-
Africa4 days ago
Aviatrix expands Africa footprint with Spotika deal
-
Compliance Updates5 days ago
Ratification of the 2026 Betting Framework for LA FRANÇAISE DES JEUX, Incorporating Excessive Gambling Mitigation Strategies
-
Interviews5 days ago
HIPTHER Community Voices: Interview with CEO of Media 24 Martins Lasmanis
-
Latest News5 days ago
East Meets Bet: Comparing Online Gambling Trends in Europe and Thailand
-
Latest News5 days ago
Logifuture enters high-growth Croatian market with Mozzart partnership