Tigre de Cristal Staff Receives Russia’s COVID-19 Vaccine, An Injection of Hope in the Resumption of International Travel

HONG KONG SAR -
Media OutReach – 23 February 2021
– Suncity Group Holdings Limited (“Suncity“, Hong Kong Stock Exchange
code: 1383) and Summit Ascent Holdings Limited (“Summit Ascent“,
Hong Kong Stock Exchange code: 102), are pleased to announce that staff in Tigre
de Cristal has started to receive Russia’s self-developed Sputnik V COVID-19 vaccination.
This is a move by the Government to safeguard the health and safety of the
Russian citizens, our staff and our guests, as well as a move to prepare the country
to go back to normal soon.

As a number of countries in the world are rolling out mass COVID-19
vaccination programmes, the
normalisation of the economy and the re-opening of international borders
are just around the corner.

The Russian Federation has begun vaccinations in Moscow early in
December 2020, among the first countries to launch its vaccination programme in
the world, and has already approved mass use in other cities including
Vladivostok, where Tigre de Cristal is located.

 

Tigre de Cristal has taken the highest precautionary measures
recommended by the Russia authorities to the highest standards, such as turning
off every other slot machine and capping the seating capacity in restaurants. Compliance
to these rules has reduced the ability of Tigre de Cristal to generate revenue.
A silver lining is that Tigre de Cristal is an integrated resort not
only visited by international travellers, but also an integrated resort well-attended
by locals. Since the reopening of Tigre de Cristal after the temporary closure
in 2020, Tigre de Cristal has recorded a decent recovery in the mass table and
slot businesses in the second half of 2020. The
injection of the vaccine to our staff offers a glimpse of hope that business
could soon return to normal. Currently, Tigre de Cristal’s Phase I upgrade on
hardware such as the newly decorated Suncity VIP room, the brand-new authentic
hot pot restaurant and the gentlemen’s club are now ready to welcome international travellers
when the borders reopen.

 

Phase II of
Tigre de Cristal is well under way, and will triple the existing number of
hotel rooms, as well as doubling in the number in its current gaming
facilities. Phase II will also feature additional leisure and entertainment
facilities such as the finest restaurants serving authentic Asian delicacies,
ranging from Korean barbecue to international flavours serving fresh seafood;
as well as a state-of-the-art indoor beach club. With the COVID-19
vaccination programme now being available to the general public, we are
certain that both the Phase I upgrade and Phase II will soon be generating
accretive business volumes to the Group in the direct VIP, junket VIP, premium
mass, mass and slots businesses as international travel gradually resumes.

 

Mr. Chau Cheok
Wa, Chairman of Suncity, also Chairman of Summit Ascent, said, “The vaccine is
a breakthrough in humanity because this is an indication that humans can win
the pandemic. I cannot be more grateful to the Russian Government, the research
and medical staff in Russia for their tireless work in developing the vaccine
and their determination to go back to the normal lives where people are allowed
to travel freely. Their decisive and ambitious actions to prioritise
vaccinating Russian citizens, including our employees working in Tigre de
Cristal, is a tell-tale sign to us that Asia is on its way back to normality.
When our customers from across Asia are allowed to travel again, I am certain
that this will mark a new era for outstanding business performance in Summit
Ascent, especially Suncity will fully back Summit Ascent as it is now a
subsidiary of Suncity.”