Junket investor Suncity Group – said by investment analysts to be one of the largest organisers of VIP gambling in Macau – wants to continue its international business expansion, said group chief executive Alvin Chau Cheok Wa.
“Since Suncity Group’s establishment in 2007, its roots have been in Macau,” Mr Chau was quoted as saying in a company press release.
He added: “Thanks to the tremendous support from different sectors, the group has been able to grow and flourish. In the future, Suncity Group is determined to develop its global travel and entertainment business.”
The comments by Mr Chau (pictured) were said to have been made during the firm’s 10th anniversary celebrations, which took place on Wednesday in Macau.
Privately-held Suncity Group opened its first VIP room in Macau in March 2007, according to its press release. The document added that the junket firm now operates 26 VIP rooms, some outside Macau, namely in the Philippine capital Manila, in Seoul in South Korea, and in Melbourne, Australia.
Suncity Group is also involved in the development of a casino resort in Vietnam’s Quang Nam province. The casino property is being promoted by Hoi An South Development Co Ltd, a joint venture between Suncity Group; Vietnam-based asset management firm VinaCapital Group; and Gold Yield Enterprises Ltd, a subsidiary of Hong Kong-based Chow Tai Fook Enterprises Ltd.
Suncity Group’s business presence also extends to London in the United Kingdom, the U.S. gaming hub of Las Vegas, and Auckland in New Zealand, the company said in its press release.
Last year, the group opened VIP rooms in Macau’s two newest Cotai casino resorts – Wynn Palace and the Parisian Macao – as well as Studio City.
Suncity Group also has investments in non-gaming, including in finance, real estate development, film production, concert and event planning, media, education, tourism, catering and luxury goods. Last year, the group established Sun Travel, focusing on high-end global travel and entertainment services.
Suncity Group has been the title sponsor of the Macau Grand Prix for the past three years.
Sep 18, 2020Macau gaming could recover more quickly than casino play in Las Vegas, Nevada, in the United States, although the mechanics of Macau’s comeback were “opaque” in terms of mainland...
”Many investors cite Golden Week as a catalyst to significant, sustainable visitation increases and a showcase for profitability for many casinos [in Macau]... However… we are concerned recovery estimates may again be pushed back”
Analyst at Roth Capital Partners