{"id":279,"date":"2024-06-28T11:48:11","date_gmt":"2024-06-28T08:48:11","guid":{"rendered":"https:\/\/spindimensioncasinonodepositbonuscodes.icu\/2024\/06\/28\/summit-ascents-earnings-climb-despite-vip-closure\/"},"modified":"2024-06-28T11:48:11","modified_gmt":"2024-06-28T08:48:11","slug":"summit-ascents-earnings-climb-despite-vip-closure","status":"publish","type":"post","link":"https:\/\/spindimensioncasinonodepositbonuscodes.icu\/2024\/06\/28\/summit-ascents-earnings-climb-despite-vip-closure\/","title":{"rendered":"Summit Ascent&#8217;s Earnings Climb Despite VIP Closure"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/dfO61yFgUqA\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Summit Ascent&#8217;s earnings climbed despite having to close down their high-roller operations in the initial six months of 2021. The organization, which manages the Tiger Palace Resort in Russia, saw their overall gambling income increase by 9.4% to HK$139.1 million (\u00a313 million\/\u20ac15.2 million\/$17.9 million) in the first half of 2021, even though VIP income fell to zero.<\/p>\n<p>The company&#8217;s electronic gaming machines were the main source of revenue, with profits rising 71.5% to $70.6 million. Individuals wagered more on these machines, increasing by 93.0% to \u20ac1.56 billion.<\/p>\n<p>Income from standard gambling tables rose 91.9% to $68.5 million, as bets increased 68.1% to $237 million.<\/p>\n<p>After paying out winnings, the operator&#8217;s net gambling revenue was $122.7 million. Including income from activities other than gambling, Summit Ascent&#8217;s total revenue was $129.5 million.<\/p>\n<p>The company did not disclose their expenditures. However, they stated they incurred a total loss of $130,000. This was a significant improvement from the $47 million loss reported in the first half of 2020.<\/p>\n<p>Summit Ascent Chairman Alvin Chau stated that their new primary owner, Suncity Group &#8211; who acquired a 70% stake last year &#8211; has helped maintain stability during challenging times.<\/p>\n<p>&#8220;Suncity has brought greater adaptability, becoming a key aspect of our company&#8217;s thinking. We have numerous ideas about how to expand.&#8221; <\/p>\n<p>However, to discuss the future, we must be able to preserve the current state of affairs,&#8221; he remarked.<\/p>\n<p>&#8220;The duration of the global disruption caused by COVID is uncertain. Nevertheless, I am confident that Summit Ascent is well-equipped to navigate this situation, even if the pandemic persists. We express our gratitude to the Russian government, our investors, staff, and vendors for their unwavering support during these challenging economic circumstances.&#8221;<\/p>\n<p>Sign up for the iGaming newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Summit Ascent&#8217;s earnings climbed despite having to close down their high-roller operations in the initial&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Summit Ascent<\/title>\n<meta name=\"description\" content=\"Summit Ascent\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/spindimensioncasinonodepositbonuscodes.icu\/2024\/06\/28\/summit-ascents-earnings-climb-despite-vip-closure\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Summit Ascent&#039;s Earnings Climb Despite VIP Closure\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Summit Ascent\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/spindimensioncasinonodepositbonuscodes.icu\/2024\/06\/28\/summit-ascents-earnings-climb-despite-vip-closure\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Discover the Latest Casino Trends &amp; News | Licensed Platform\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-28T08:48:11+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/spindimensioncasinonodepositbonuscodes.icu\/2024\/06\/28\/summit-ascents-earnings-climb-despite-vip-closure\/\",\"url\":\"https:\/\/spindimensioncasinonodepositbonuscodes.icu\/2024\/06\/28\/summit-ascents-earnings-climb-despite-vip-closure\/\",\"name\":\"Summit Ascent\",\"isPartOf\":{\"@id\":\"https:\/\/spindimensioncasinonodepositbonuscodes.icu\/#website\"},\"datePublished\":\"2024-06-28T08:48:11+00:00\",\"dateModified\":\"2024-06-28T08:48:11+00:00\",\"author\":{\"@id\":\"https:\/\/spindimensioncasinonodepositbonuscodes.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"Summit Ascent\",\"breadcrumb\":{\"@id\":\"https:\/\/spindimensioncasinonodepositbonuscodes.icu\/2024\/06\/28\/summit-ascents-earnings-climb-despite-vip-closure\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/spindimensioncasinonodepositbonuscodes.icu\/2024\/06\/28\/summit-ascents-earnings-climb-despite-vip-closure\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/spindimensioncasinonodepositbonuscodes.icu\/2024\/06\/28\/summit-ascents-earnings-climb-despite-vip-closure\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/spindimensioncasinonodepositbonuscodes.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Summit Ascent&#8217;s Earnings Climb Despite VIP Closure\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/spindimensioncasinonodepositbonuscodes.icu\/#website\",\"url\":\"https:\/\/spindimensioncasinonodepositbonuscodes.icu\/\",\"name\":\"Discover the Latest Casino Trends &amp; News | Licensed Platform\",\"description\":\"Discover the dynamic world of online gambling through our fresh casino news, honest game reviews, and informative insights. 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