Macau Based Suncity Group Eyeing Japan for Billion Dollar Investment

Based in the world ultimate gambling hub, Macau, the leading junket operator Suncity Group recently unveiled its plans to invest several billion dollars on the Japanese soil in a bid to make a shift from being a middleman to a full-fledged casino operator. As reported by Bloomberg, the Suncity Group is already on a mission to hunt for suitable collaborators to help realize the plans of establishing a new integrated resort worth $10 billion in the Japanese casino market that is of course only if the former is able to procure a license.

Stating the major reason behind such a plan, the Suncity Group executive director Andrew Lo remarked that they wish to expand their junket operations and expand their turf within the casino market as well. Lo further added that merely being a junket operator has limited their opportunities for growth and expansion even in the local Macau market. By trying their hands at casino operations, the Suncity group can not only have their own integrated resorts but also restaurants, swimming pools and golf courses, and allow the acquisition of a larger clientele.

In the wake of the anti corruption legislation that was introduced by the government in China, the prospect of VIP gambling suffered a major setback in the last couple of years. In a bid to address the volatility and instability that the country recently encountered, the government in China proposes its gambling hub Macau to diversify and minimize its reliance on gaming, rather than entirely shutting down its casino operations. In addition to this, another major blow for Macau came when the government imposed tighter restrictions on Visa procurement and banned smoking across casino premises in the country. Given the current financial troubles of its domestic market, Suncity plans to focus on bigger opportunities on foreign soil.

Apart from Japan, Suncity also has plans of expansion in Vietnam. According to earlier reports, Suncity has already collaborated with Hong Kong’s Chow Tai Fook Enterprises and VinaCaptial, a closed end fund based in Vietnam for establishing an integrated resort worth $4 billion that is scheduled for launch in Hoi An in 2019.

While the company is majorly focusing on its diversification plans in overseas markets, Andrew Lo also points out that they are sufficiently optimistic about their opportunities in their home land as well and the growth and expansion is likely to continue, once the situation has been addressed.