• 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

Suncity’s Alvin Chau named chairman of Summit Ascent

Jun 03, 2019 Newsdesk Latest News, Macau, Rest of Asia, Top of the deck  


Suncity’s Alvin Chau named chairman of Summit Ascent

Alvin Chau Cheok Wa (pictured), founder and chairman of the Macau junket brand Suncity Group, has been appointed as non-executive director and chairman of Hong Kong-listed Summit Ascent Holdings Ltd, the promoter of Tigre de Cristal, a casino resort in the Russian Far East.

Summit Ascent confirmed the move in a filing to the Hong Kong Stock Exchange on Friday.

The same announcement said Philip Wong Pak Ling, the chief financial officer of privately-held Suncity Group, had been appointed a non-executive director of Summit Ascent.

In April, Suncity Group Holdings Ltd – a company also quoted on the Hong Kong bourse – said it had increased its interest in the stock of Summit Ascent to about 27.97 percent. Suncity Group Holdings is controlled by Mr Chau.

Tigre de Cristal, near the Russian Pacific port of Vladivostok, has been targeting gamblers from neighbouring China and other markets in East Asia.

Eric Landheer, an executive director of Summit Ascent, told GGRAsia on the sidelines of the recent Global Gaming Expo Asia 2019 casino trade show and conference in Macau that the involvement of the Suncity brand would be a “significant positive” for Tigre de Cristal.

A recent report from brokerage Union Gaming Securities Asia Ltd said VIP gambling turnover at the Russian casino might rise by as much as 250 percent year-on-year in 2020 with the involvement of Suncity.

Some investment analysts say that junket brand is the largest-single contributor to VIP volume in the Macau gaming market.

Suncity Group Holdings – which does not include any profit streams from Macau gambling junkets in its filed accounts – has been increasing its gaming investments into markets beyond Greater China. That is both in terms of new-build resorts such as Hoiana in Vietnam, due to open later this year; and in terms of deals to manage third-party-controlled properties in other markets, such as Cambodia.


  • tweet
Related articles
  • Alvin Chau and prosecution appeal court sentence
    Alvin Chau and prosecution appeal court...

    Feb 08, 2023  

  • LET Group seeks US$6 million in funds via share placement
    LET Group seeks US$6 million in funds...

    Feb 06, 2023  

More news
  • LVS ranked by S&P as most sustainable casino sector firm
    LVS ranked by S&P as most...

    Feb 08, 2023  

  • Crane aims to complete split into 2 listed entities by April 3
    Crane aims to complete split into 2...

    Feb 08, 2023  


Latest News

Alvin Chau and prosecution appeal court sentence

Alvin Chau and prosecution appeal court sentence

Feb 08, 2023  

The defence and the prosecution have respectively appealed against a Macau court’s sentencing decision that encompassed Alvin Chau Cheok Wa, former boss of now-defunct Macau casino junket...
Read More
LVS ranked by S&P as most sustainable casino sector firm

LVS ranked by S&P as most sustainable casino sector...

Feb 08, 2023  

Crane aims to complete split into 2 listed entities by April 3

Crane aims to complete split into 2 listed entities by...

Feb 08, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

"The company will scrutinise the [26 Capital] lawsuit and properly deal with it"

Universal Entertainment

Japanese firm that controls the Okada Manila casino resort in the Philippines



Most Popular

  • Macau mulls subsidy of up to US$62 per overseas visitorMacau mulls subsidy of up to US$62 per overseas visitor February 7, 2023
  • Macau early Feb average daily GGR higher than Jan: JPMMacau early Feb average daily GGR higher than Jan: JPM February 6, 2023
  • Ex-junket boss Levo Chan aimed to go to Taiwan: policeEx-junket boss Levo Chan aimed to go to Taiwan: police February 7, 2023
  • SPAC partner in Okada Manila listing sues Universal Ent sideSPAC partner in Okada Manila listing sues Universal Ent side February 7, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us