LET Group sees 69% profit rise in first half of 2025

Revenue was driven by Tigre de Cristal.

Hong Kong.- The casino investor LET Group Holdings has reported a strong first half of 2025, with profit attributable to equity holders rising 69 per cent year-on-year to HKD99.5m (US$12.8m). Revenue grew 65 per cent to HKD312.9m (US$40.1m). This was driven by the company’s 77.5 per cent stake in the Tigre de Cristal resort in Russia, which saw a 12 per cent revenue increase to HKD212.8m (US$27.3m).

LET Group’s adjusted EBITDA reached HKD32.5m (US$4.1m), up from HKD9.7m (US$1.2m) a year earlier. Its subsidiary, Summit Ascent Holdings Ltd, reported a 29.7 per cent profit increase to HKD202.9m (US$26m). However, the company defaulted on a HKD137.5m (US$17.6m) loan repayment.

The group is an investor in the Westside City project in Manila, Philippines, where its subsidiary Suntrust Resort Holdings Inc. is to manage a five-star hotel and casino complex, now slated for completion in Q3 2026. LET Group said it may require additional funding to complete the project. However, it said it remains optimistic about liquidity and its ability to meet financial obligations over the next 12 months.

Both LET Group and Summit Ascent were delisted from the Hong Kong Stock Exchange on September 1, 2025, after failing to meet listing requirements following board member resignations.

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Revenue was driven by Tigre de Cristal. Hong Kong.- The casino investor LET Group Holdings has reported a strong first half of 2025, with profit attributable to equity holders rising…