LET Group and its subsidiary Summit Ascent Holdings posted impressive first-half results in 2025, bolstered by improved performance at their Russian integrated resort, Tigre de Cristal, and the launch of a new export trading business.

1H 2025 Financial Highlights

• Revenue soared 64.7% year-over-year to HK$312.9 million (US$40.1 million).

• Adjusted EBITDA rose modestly to HK$67.8 million (US$8.7 million).

• Profit attributable to owners increased 29.6% to HK$202.9 million (US$26.0 million). 

These gains come as both companies prepare to be delisted from the Hong Kong Stock Exchange starting 1 September 2025, following extended regulatory non-compliance. The delisting marks the end of a volatile period characterized by failed resumption attempts and governance scrutiny.

Tigre de Cristal’s Performance

Positive operating momentum at Tigre de Cristal was a key driver:

• GGR across all segments climbed to HK$246.9 million (US$31.7 million), with:

  • Rolling chip GGR of HK$8.70 million (US$1.1 million), compared to zero a year earlier

  • Mass table GGR of HK$147.7 million (US$18.9 million), up from HK$139.0 million

  • Electronic gaming GGR of HK$90.4 million (US$11.6 million), rising from HK$81.9 million

• Hotel revenue edged up 1.2% to HK$17.6 million (US$2.3 million) 

Previously, in 2024, Summit Ascent turned a profit from Tigre de Cristal, with gaming and hotel revenue rising 12%, totaling HK$414.5 million (US$51.8 million). This helped improve liquidity and build investor confidence amid challenging macro conditions.

New Export Business Launch

LET Group diversified its operations by launching a trading business exporting agricultural and industrial products from Russia. The new division generated HK$100.1 million (US$12.8 million) in revenue during the first half. The company cited its long-standing procurement network and supplier relationships in Russia as strategic advantages.