Macau¡¯s biggest junket operator wants to be more than a middleman lender for Chinese high rollers, so it¡¯s spending billions of dollars to transform itself into an overseas casino operator on a par with Las Vegas Sands Corp. and Wynn Resorts Ltd.
Suncity Group, which operates VIP rooms where monthly bets recently surpassed HK$130 billion ($17 billion), is looking for partners in Japan after investing in a Vietnam resort scheduled to open in 2019. The company¡¯s international plans include owning stakes in casinos and bidding on contracts to manage others¡¯ casinos.
¡°As a junket operator, we don¡¯t have enough chips to play the game even in Macau,¡± said Andrew Lo, executive director of the group¡¯s listed vehicle, Suncity Group Holdings Ltd. ¡°In the future, if we own the integrated resorts, we have golf courses, swimming pools and restaurants. Our clients will stick with us more.¡±
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