Japan Wakayama generic
Suncity Group Executive Director John Au Chung On made clear at a symposium on Monday that his company was planning to make an IR bid in Japan and that Wakayama was a location that they are focusing on.
“We will make an IR in Wakayama the likes the world has never seen,” Au was quoted as saying. “We will certainly attract the wealthy people of Asia to this center of entertainment and traditional culture.”
Au was speaking at the symposium alongside Jonathan Strock of Groupe Barrière and Mitsuaki Kiriyama of Bloomberry Resorts Japan, representatives of two other IR operators that have focused their attention on Wakayama for a longer period.
Also speaking at the Wakayama symposium, which brought together an audience of about 450 people, was Liberal Democratic Party Deputy Secretary-General Koichi Hagiuda and Wakayama Governor Yoshinobu Nisaka.
Suncity Group said it has secured a two-year extension to the conversion date of outstanding convertible bonds, which are mostly held by a company controlled by Chairman Alvin Chau.
Suncity has now increased its stake in Summit Ascent from approximately 24.7 percent before the recent rights issue to approximately 69.7 percent, taking a controlling stake in the operator of Tigre de Cristal in the Russian Far East.
China’s move to criminalize efforts to lure Chinese nationals overseas to gamble spells more bad news for Macau's junket sector, which was already facing tough trading conditions.
The Macau government has received MOP299 million (US$48.8 million) in taxes on commissions paid by casinos to junket operators in 2019, a 24 per cent year-on-year drop, according to the last year’s budget execution report.
Suncity Group Holdings has been given three investor relations awards from the Hong Kong Investor Relations Association.
The Suncity Group has again signaled its seriousness for bidding to become Wakayama’s IR development partner by opening an office in the city. Located at Nankai Electric Railway Company’s Wakayama Daigaku-mae Station in the northern part of the city, the 460 square meter office will be open to the public from Friday, and it includes […]
IR development in Japan may currently be stalled, but the Suncity Group is moving forward with its public relations campaign in Wakayama by sponsoring the local professional basketball team. Suncity has become an official sponsor of the Wakayama Trians, and is coordinating the release of a series of physical training videos together with the team. […]
Suncity Group Holdings has reported 2020 H1 results showing RMB93.7 million (US$14 million) in total revenues, a figure which is down 70 percent year-on-year. The loss attributable to owners of the company was RMB118.6 million. As of June 30, the firm held cash in the amount of RMB1.66 billion. Turning to various development projects, he […]
Suncity Group has issued a profit warning noting that, based on its preliminary review, the group is expecting to report about RMB108 million (US$15.1 million) in losses for the January-June 2020 period. The statement noted that “due to the outbreak of Covid-19, there has been a significant impact on the group’s travel and tourism related […]
Suncity Group has announced that its chairman, Alvin Chau, will exchange his existing shareholder loans worth about US$500 million into Perpetual Securities, a move which will boost the firm’s liquidity and aims to demonstrate his full confidence in its future. Under the arrangement, Suncity may choose to repay or not to repay Chau both the […]