• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Lawrence Ho raising US$25 mln via Summit Ascent share sale

Jun 03, 2015 Newsdesk Latest News, Rest of Asia, Top of the deck  


Lawrence Ho raising US$25 mln via Summit Ascent share sale

A company wholly-owned by Asian casino investor Lawrence Ho Yau Lung is to realise up to HKD194.0 million (US$25 million) from the proposed sale of 40 million shares in Hong Kong-listed Summit Ascent Holdings Ltd. The latter firm is a majority investor in a casino project in the Primorye region of the Russian Far East that is due to open by August 28.

The share placing by Quick Glitter Ltd – an entity wholly-owned by Mr Ho (pictured) – is to an independent third party, according to a Hong Kong Stock Exchange filing after market close on Tuesday by Summit Ascent. The price per unit is HKD4.85. Summit Ascent’s share price closed at HKD5.24 on Tuesday.

Quick Glitter is described in the document as the “largest shareholder” of Summit Ascent.

The filing said that part of the proceeds from the sale would be used by Mr Ho to exercise 40 million share options in Summit Ascent.

“As at the date of this announcement, 20 million of the share options have already vested in Mr Ho and the remaining 20 million share options will be vested in Mr Ho in equal portions on 31 October 2015 and 31 October 2016 respectively,” added the filing.

Following both operations – the share sale and the exercise of all share options – Mr Ho’s total number of shares in the company will remain unchanged, the filing added.


  • tweet
Related articles
  • Casino investor LET gets US$64mln loan from Summit Ascent
    Casino investor LET gets US$64mln loan...

    Jan 30, 2023  

  • Summit Ascent says Suntrust owes it US$6mln bond interest
    Summit Ascent says Suntrust owes it...

    Jan 17, 2023  

More news
  • Gaming-related crime in Macau down 30pct in 2022: police
    Gaming-related crime in Macau down...

    Feb 01, 2023  

  • Donaco posts US$1.3mln 4Q EBITDA, flags positive outlook
    Donaco posts US$1.3mln 4Q EBITDA, flags...

    Jan 31, 2023  


Latest News

Gaming-related crime in Macau down 30pct in 2022: police

Gaming-related crime in Macau down 30pct in 2022: police

Feb 01, 2023  

Macau recorded 965 “gaming-related” crimes in full-year 2022, down 29.7 percent on the 1,372 identified in the previous year, according to the latest statistics published on Tuesday by...
Read More
Donaco posts US$1.3mln 4Q EBITDA, flags positive outlook

Donaco posts US$1.3mln 4Q EBITDA, flags positive outlook

Jan 31, 2023  

Tak Chun execs knew illicit to settle proxy in Macau: trial

Tak Chun execs knew illicit to settle proxy in Macau: trial

Jan 31, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$1.08 billion

Total income for 2022 reported by the Philippine Amusement and Gaming Corp



Most Popular

  • Available Macau casino tables busy at tail of CNY holsAvailable Macau casino tables busy at tail of CNY hols January 27, 2023
  • Almost half million visitors to Macau for 7 days of CNY holsAlmost half million visitors to Macau for 7 days of CNY hols January 30, 2023
  • Macau visitor momentum kept for post CNY weekendMacau visitor momentum kept for post CNY weekend January 30, 2023
  • Macau CNY mass GGR maybe 60pct plus of CNY 2019: JPMMacau CNY mass GGR maybe 60pct plus of CNY 2019: JPM January 31, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us