Last week, the main shareholder in Summit Ascent Holdings Ltd confirmed that they were considering selling off their shares in the company. First Steamship Co Ltd, the primary shareholder in Summit Ascent with nearly 20% of the stock, announced their plans to take their money and go home.

On April 9, First Steamship provided a filing to the Taiwan Stock Exchange which confirms that the company is looking to sell off their assets to a third-party. Summit Ascent, which is the promoter of Tigre dee Cristal, one of the largest resort casinos in Russia, could very well have the same group of current investors who would be purchasing additional shares, according to the report.

First Steamship currently owns over 285 million shares in the casino resort promoter, or approximately 19.25%. While no official confirmation has been provided, it seems likely that the company will be having an additional set of shareholders soon.

The timing of this move is interesting, as Suncity Group had just bought the equity position of Summit Ascent in the Macau casino in February. Suncity had already owned 3.3% of the shares in Summit Ascent, but had increased their shares to an undisclosed amount. Now many are speculating that they are one of the investors looking to increase their shares as First Steamship sells off their holdings.