Russian Firm Far Eastern Asset LLC Acquires Tigre de Cristal Casino in Hong Kong
Hong Kong-based Oriental Regent Limited, the owner of the Tigre de Cristal casino, has completed the sale of 100% of the casino's shares to Russian company Far Eastern Asset LLC. The transaction includes the casino and an associated resort near Vladivostok. Dmitry Anfinogenov, the general director of Far Eastern Asset LLC, also manages the Association of Gambling Zones of Russia.
The acquisition, conducted in yuan due to a 10% tax on transactions with foreign companies imposed by Russian authorities, will be finalized outside the country. While the exact sale price was not disclosed, Oriental Regent mentioned the return of the $28 million invested in the project. Following the completion of the deal, Oriental Regent will have no remaining business operations in Russia.
14 January 2024, 12:00
Finance
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