Suncity Group Holdings Limited inks Cambodia Arrangement

Asian junket operator, Suncity Group Holdings Limited, has reportedly signed a deal that is to see it provide management and consultancy services to a new integrated casino resort being built in southern Cambodia.

Sihanoukville development:

According to a report from GGRAsia, the Hong Kong-listed firm used an official Wednesday filing to explain that the ‘strategic partnership framework agreement’ with Golden Sun Sky Entertainment Company Limited was inked by its Suncity Group Management and Consultancy Limited subsidiary and concerns an under-construction project in the coastal city of Sihanoukville.

Suncity reportedly detailed that the coming $360 million beachfront scheme is due to open by the end of next year featuring a casino as well as hotels, restaurants and convention spaces. It moreover stated that the new property will sit on the three-mile-long Otres Beach near the Asian nation’s Ream National Park and offer guests views out over the Gulf of Thailand.

Pair to possibly look further afield:

The source further reported that the accord is to see the operator provide its new Cambodia-registered partner with management services and advice while potentially cooperating on similar developments in other markets. The Macau-headquartered company did not disclose the financial details of the agreement and declared that the particulars of the arrangement are now to be formulated via the signing of ‘specific contracts.’

Duo diversifying their portfolios:

Suncity Group is one of the largest junket operators in Macau and last week finalized an arrangement that saw it acquire a 34% stake in central Vietnam’s coming Hoiana integrated casino resort.

For its part, Golden Sun Sky Entertainment Company Limited is owned by Chinese tourism, construction and airline firm, China Yunnan Jingcheng Group Company Limited, with its sister enterprises including Kunming-based Ruili Airlines Company Limited alongside Cambodian carrier JC (Cambodia) International Airlines Company Limited.