Suncity Group enters bidding race for Japanese casino license

In an exclusive interview published by Bloomberg website, Andrew Lo, executive director of the Suncity, said the expansion plans includes owning stakes in casinos and bidding on contracts to manage others' casinos.

“In the future, if we own the integrated resorts, we have golf courses, swimming pools and restaurants. Our clients will stick with us more," he pointed out.

According to the media, the company is willing to own a minority stake of between 10 percent and 20 percent in an integrated resort project to be developed in Japan and has already talked to potential partners within the construction, hotel and retail industries.

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We know how to build a Japanese-style integrated resort that fits Asian customers.

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“We know Japanese traditional culture. I believe this is what the Japanese government wants, instead of just branding,” he added.

At the moment, Suncity Group owns 34 percent of the Vietman casino project through its Hong Kong-listed subsidiary and has a management contract to operate the gaming facility. The subsidiary’s shares have risen 118 percent this year, compared with a 27 percent increase for the Hang Seng Index.

Vietnam could generate as much as $1.2 billion in gross gaming revenue, according to an Aug. 9 report by Grant Govertsen, an analyst with Macau-based Union Gaming Securities Asia Ltd.