G1 Entertainment

    G1 Entertainment is a majority-owned subsidiary of Summit Ascent Holdings Limited, and are the operators of Tiger De Cristal in Russia.

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    Tigre De Cristal second phase to focus on non-gaming

    G1 Entertainment, the company behind Tigre De Cristal, is planning its second stage of the casino resort which is said to focus on non-gaming facilities. G1 Entertainment executive director Stylianos Tsifetakis recently met with the management of the Primorsky Territory Development Corporation to discuss plans for the development of the entertainment sector in the region. […]

    St Petersburg, Primorye considers casino cruise ships

    Primorye Territory Vice Governor Andrei Tarasenko is considering allowing casino cruise ships in a bid to attract foreign punters, local media reports. The ship is expected to run between Russian far-eastern ports and those of Japan, Korea and China. Tarasenko told investors during a meeting that “co-financing will allow you to expand your business and […]

    G1 Entertainment files for Tigre trademark in Macau

    Russian casino operator G1 Entertainment LLC has applied for trademark registration for its Tigre de Cristal brand in Macau, according to the Official Gazette. The application included a number of services which included, but not limited to: amusement parks, recreational facilities, provision of casino facilities, gaming services, lotteries, night clubs, and rental of gaming equipment. […]

    Federal authorities take control Primorye zone

    Control over Russia’s gambling zone in Primorye has been passed from the local government to the federal government over concerns the region is developing too slowly, according to reports. Deputy Prime Minister and Plenipotentiary Representative of the President in Russia’s Far Eastern Federal District Yuri Trutnev reportedly made the comment to TASS in Macau last […]

    Diamond Fortune begins construction of Selena complex

    Russian investor Diamond Fortune Holdings Prim has begun construction of the hotel and entertainment complex, Selena World Resort and Casino, in Russia’s far eastern Primorye gambling zone. According to the Primorye Territory Development Corporation, the company has already concluded the pre-construction activities and even intends to complete the construction ahead of schedule. Diamond Fortune Holdings […]

    Summit Ascent swings to profit in 2016

    Russian casino operator Summit Ascent Holdings Ltd swung to a net profit of HK$559,000 (US$71,800) in the full year 2016, compared to a net loss of HK$85.4 million in 2015. 2016 was the first full calendar year of operations of Tiger de Cristal, which grew rolling chip turnover from HK$3.5 billion in 16H1 to HK$10.6 […]

    Tigre cuts gaming tables, poker rooms

    The operator of Tigre de Cristal has had to cut the number of gaming tables by half and do away with its poker rooms due to competition with illegal gambling rooms and lower than expected revenues, Betting Business Russia reports.  G1 Entertainment director Craig Ballantyne in an interview said that when the casino opened in […]

    G1 Entertainment, Kangwon prepare for Primorye casino

    Summit Ascent Holdings’ G1 Entertainment says it is currently preparing for its second gaming facility, which will be in partnership with South Korean casino operator Kangwon Land, according to a report on the local government website. “There are plans to build a facility of 100,000 square meters, including 400 to 500 hotel rooms… At the […]

    G1 Entertainment to invest $500m in Tigre De Cristal Phase 2

    The company behind Russia’s largest casino, Tigre de Cristal, plans to invest about $500 million in the second phase of the project, according to a press statement quoting Craig Ballantyne, executive director of G1 Entertainment. “There are plans to build a facility with the area of 100 thousand square meters, including 400 to 500 hotel […]

    Investors dodge tax bullet, discuss development plans

    Operators in Russia’s Far East have won a reprieve from a potentially punishing new tax regime and are now discussing further development plans with the government of the zone. In the interests of long-term investment, Primorye chose to leave taxes unchanged. It now hopes to attract further investors through land auctions this summer and to introduce more non-gaming elements. 

    Tax hike proposal gambles with Russian casino prospects

    Russian gambling industry executives have lambasted a Finance Ministry proposal to raise gaming taxes, saying that such an initiative would "destroy the gambling business." To date, one of Russia's key draws for foreign investors has been its low taxation rate. If taxes rise tenfold as proposed, the industry will come to a standstill, participants say.