The Suncity group must be in high spirits as reports have surfaced that they are most likely to be in a far superior position to procure the license for the seventh casino within Macau. This was detailed in a report released by Union Gaming Securities Asia Ltd. that they released this past Monday, the report states that Suncity’s success with their venture in the multi-billion dollar integrated resort in Vietnam will act as a form of evidence of possible success within the Macau region in China.
More Reasons on Why Union Gaming Believes in Suncity
Other attractive factors for the Suncity group at the moment is that since they own 34% of Hoiana – the integrated resort in Vietnam – they are already competent international brokers, making them far more likely to secure the next bid for Macau’s seventh casino. Due to the pervasive occurrences of high roller players within Macau the fact that Suncity is coming in as an experienced, well-rounded figure within the South East Asian market segment significantly increases its chances of working well within Macau, according to an analyst at Unity Gaming.
In 2015 Suncity partnered with Chow Tai Fook Group’s subsidiary Golden Yield and with a corporation based in Vietnam known as Vinacapital to erect the $4 billion resort. This resort is located within the province of Quang Nam; Suncity will need to provide $26.2 million in order to provide for a portion of the construction in line with their 34% ownership of the property. The construction of the integrated resort is only due to begin in 2019, during this period the initial phase of the project will be rolled out.
The first phase consists of a hotel with 445 rooms, 220 residential apartments which will be managed by Hong Kong’s New World Hotels, a Rosewood resort which will have 75 villas and 25 residences, a golf course, and a casino. If you’re wondering yes this does sound magical, however, there are costs that Suncity must heed. Suncity will have to shell out a considerable fortune on the operations and management of the casinos and resort each year, to put it into monetary terms if the resort was able to make $15 billion, Suncity would have to pay this in management fees HKD369million (US$48 million).
When Union Gaming looked at the picture from a holistic perspective it became clearer and clearer that the only one who was really anywhere close to obtaining the license for casino number 7 in Macau is the Suncity group. They simply have no equal.