Hong Kong-based junket operator Suncity Group has announced that it has acquired a majority stake in Manila-based Suntrust Home Developers. Suntrust is to co-develop and operate a casino resort in Manila.
In a statement to Reuters, Andrew Lo, executive director at Suncity, said that “Outside of Macau the most decent city for gaming is Manila because of the scale, three international brands, and facilities, airport. Quite convenient.”
Suntrust has already signed an agreement to develop a casino hotel. It revealed the plans for the proposed casino hotel which would host 400 beds, about 400 gaming tables, and 1,200 slot machines.
The Suncity group’s purchase of Suntrust is still subject to regulatory approval.
Earlier this week, Suncity Group also confirmed its budget pans for a prospective casino in Japan. The junket operator said that it would be spending anything between HK$30 billion and HK$35 billion (US$3.8 billion to US$4.5 billion) for the prospective Wakayama integrated resort it hopes to build.
The company CEO, Alvin Chau said that he would transform the city into an entertainment hub.
Suncity has been in hot waters recently. In August this year, the junket operator confirmed they are shutting their VIP gambling rooms located at The Star’s Sydney casino.
Suncity has also been accused by Chinese media for facilitating online gambling for clients at overseas casinos. Economic Information Daily, an affiliate of the state-run media Xinhua News Agency, published a report where it singled out Suncity and alleged that the junket operator was running a massive network of online gambling websites which were based overseas and were created to target customers from mainland China.