Suncity Group Enters the Japan IR Market

Macau-based Suncity Group, mainly known as a giant in the junket industry, has signaled its interest in joining the Japan IR race by deploying an executive director to speak at a symposium in Wakayama in late August.

Executive Director John Au Chung On will represent the Suncity Group at the symposium alongside Jonathan Strock of Groupe Barrière and Mitsuaki Kiriyama of Bloomberry Resorts Japan.

Suncity had not previously made any concrete move toward Japan, but the possibility has been on their mind for several years. Then-Executive Director Andrew Lo Kai Bong told Bloomberg in July 2017, “We know how to build a Japanese-style integrated resort that fits Asian customers. We know Japanese traditional culture. I believe this is what the Japanese government wants, instead of just branding.”

Suncity Group, listed on the Hong Kong Stock Exchange, was founded in 2007 and has been engaged in a rapid expansion based on the success of its junket business. One of its most prominent recent moves was to ink a deal to provide management and consultancy services to the owners of the US$4 billion Hoiana Integrated Resort, which is due to open in Vietnam in October. They are also involved in a casino project in Sihanoukville, Cambodia. Moreover, Suncity is even thought to be under consideration as a possible seventh concessionaire in Macau’s lucrative gaming market. (AGB Nippon)