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Summit Ascent Seeks to Diversify EMEA


Summit Ascent has said it will limit the expansion of Tigre de Cristal’s Phase II expansion in Russia’s far east and look instead to diversify its revenue streams


Summit recorded total revenue in the first half of the year of HK$96m, down 63 per cent compared to 1H 2019, primarily due to the COVID-19 pandemic.


RUSSIA CASINO OPERATIONS


GERMANY – Casino Bad Oeynhausen has become the first European venue to offer players the chance to climb aboard Aristocrat’s Cash Express Luxury Line. Part of the German Westspiel Group, situated in the western state of North Rhine-Westphalia, the casino unveiled the locomotive-themed linked progressive game with socially distanced measures to ensure first class ‘passenger’ safety and comfort.


Casino Bad Oeynhausen Director, Joachim Pollok, said: “The original Cash Express link was hugely popular with Westspiel players and this new livery was one of the stand-out new concepts in our shopping basket from the last ICE Show in London.


“We are delighted to be the first hosts in Europe and look forward to helping our customers climb aboard for a new and exciting gaming journey.”


Aristocrat Vice-President of Sales and Business Development – EMEA, Erik-Jan van den Berg added: “Westspiel have a long and distinguished track record in presenting and operating Aristocrat games. They were the first German operator to adopt Lightning Link and are once again breaking new ground with the first EMEA installation of this all- new Cash Express revival.”


ROMANIA – Spearhead Studios has announced its entry on the Romanian market with the gaming development company finalising the process of getting its game portfolio certified in Romania, including titles such as Lara Jones is Cleopatra, Popstar, and Wilds of Wall Street.


Mathias Larsson, Managing Director of Spearhead Studios, commented: “We are a young company with big ambitions. Getting our games certified in multiple jurisdictions, including Romania, is what will help us push through and bring excitement to players around Europe and beyond.


“We also got our Colombia certification in June and our Group company, EveryMatrix, is now gearing up to enter the US, which is exciting news. I am looking forward to seeing Spearhead Studios thrive around the globe in many regulated markets.”


UK – The Gambling Commission has launched the competition to award the fourth National Lottery licence. The licence will be fixed for a 10-year period aims to provide greater flexibility to maximise returns to good causes, hand in hand with ensuring safe and fair play. A new incentive mechanism will ensure the licensee’s incentives and delivery are closely aligned with returns to good causes. The licensee will be required to foster stronger relationships with the distributors of National Lottery funding to further strengthen the link between the National Lottery brand, its players, and beneficiaries.


P20 NEWSWIRE / INTERACTIVE / MARKET DATA


Summit Ascent Holdings has said it will limit the expansion of Tigre de Cristal’s Phase II expansion in Russia’s far east and look instead to diversify its revenue streams with investments in other gaming markets. Te directors believe that the COVID-19 will continue to present challenges to the Group, and it is impossible to quantify the impact to the overall business due to many uncertainties, including impact of the COVID-19 on the economy and consumer behaviour in the short and long term. Nevertheless, the group has a strong liquidity position with current ratio of 3.0 and a debt to equity of zero as at 30 June 2020 and would be able to continue its operation under this unprecedented period of ‘near-zero revenue’ for over 12 months from the end of the reporting period.


A company spokesperson said: “Due to the recent redesigns with the input of Suncity, the group has been reviewing and finalising the conceptual designs of the Tigre de Cristal Phase II development on Lot 10, and planning to commence the construction works in the fourth quarter of 2020, targeting an opening in 2022. Te expected total development cost of the Phase II project is approximately US$200m. Tis new integrated resort is expected to double


R. Franco Digital and GAMING1 partner for international expansion


Spain


R. Franco Digital has signed an agreement with gaming and sports betting partner GAMING1, in a move that further enhances both companies’ growing worldwide appeal and development.


Te deal gives GAMING1’s customers access to R. Franco Digital’s extensive catalogue of hit games such as Time Lab, Fortune Jungle and Magic Jewels, as well as R Franco Digital’s range of products and services, including its IRIS platform.


Likewise, GAMING1’s catalogue of 120+ in-house games are to be incorporated into R Franco Digital’s Spanish operator brand, Wanabet. One


the Group’s VIP and mass gaming tables, slots, and have at least twice the lodging capacity of the existing property, and will include four restaurants and bars, additional retail offerings, and an indoor beach club and spa. Te Phase II development of Tigre de Cristal will place the group in a better position to attract and retain customers, especially when other casino operators in the IEZ Primorye open for business in the near future.


“Whilst the directors remain cautiously optimistic about the long-term prospects of Tigre de Cristal in the Russian Federation, they are of the view that it is in the best interests of the company to diversify its assets and revenue streams in order to reduce the group’s reliance on a single revenue source and location. From geographic diversity point of view, the company has been exploring other business opportunities in order to expand the existing business of the Group and to explore new markets with significant growth potential. Te investment in SunTrust marked the first step to establishing the Group’s footprint in the casino and entertainment market of the Philippines and allows the Group to tap into this market, as well as provide synergies to the tourism business in partnering with SunTrust and Suncity.”


of the gaming industry’s largest operators, With shared operations set to start in Belgium, their strategic partnership will extend to Spain (circus.es), as well as Colombia (zamba.com), with Malta to follow.


Te partnership is to further expand R. Franco Digital’s footprint as it enhances its presence across global regulated markets – following recent deals signed with Dafabet, 1XBet and BetConstruct.


Javier Sacristan, Director of R Franco Digital, said: “Working alongside a company as well- established as GAMING1 is the perfect way to deliver our immersive range of games to a growing global client base. Both companies share a strong land-based heritage with a proven track record for bringing operators into the online domain.”


Ukraine


Te Bill No. 2285-d to legalise the gambling industry in Ukraine has now been signed by President Volodymyr Zelenskyi. Te creation of a legal gambling market is expected to generate around UAH5bn in annual budget revenues, as well as act as an incentive for the growth of related business areas and the creation of 1,000s of new jobs.


Despite the presidential signature, the legislation doesn’t yet offer clarification that operators need to consider licensing costs and industry taxes. Tis is expected in September. Te government has committed to establishing eight forms of gambling; land-based casinos, online casinos, retail sports betting, online sports betting, slot halls, online poker, totaliser contracts and lotteries. Te new market is expected to be somewhere in the region of 40,000 slot machines.


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