• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Saturday 28 May 2022
  • 中文中文
  • 日本語日本語
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • Vietnam
  • Events
  • Consulting
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • Vietnam
  • Events
  • Consulting
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

2020 Asian Gaming Power 50: Number 6 – Alvin Chau

Newsdesk by Newsdesk
Sun 8 Nov 2020 at 15:18
2020 Asian Gaming Power 50: Number 6 – Alvin Chau
61
SHARES
1.5k
VIEWS
Print Friendly, PDF & Email

CEO AND DIRECTOR
Suncity Group

CHAIRMAN AND DIRECTOR
Suncity Group Holdings

CHAIRMAN AND NON-EXECUTIVE DIRECTOR
Summit Ascent Holdings

POWER SCORE: 2,719
POSITION LAST YEAR: 6

CLAIMS TO FAME

  • Expanding Suncity from junket promoter to casino owner and operator via Hong Kong listed arm
  • Increasing dominance in Macau junket market
  • Top Macau native in city’s leading industry

To describe Alvin Chau’s year as eventful would be like calling the COVID-19 pandemic a mild case of seasonal flu.

Already facing a retraction in Macau’s VIP gaming revenue due to a slowdown of economic growth in China and increasing scrutiny of capital outflow by Beijing, the junket sector was blindsided by COVID-19 which saw borders between the nations slammed shut and most international travel put on indefinite hold.

In August, China’s Ministry of Culture and Tourism announced that it had established a “blacklist” of overseas tourist destinations it said were disrupting the nation’s outbound tourism market by opening casinos targeting mainland Chinese customers. While none of those destinations were identified, the Ministry was widely believed to be referencing Southeast Asian jurisdictions such as the Philippines, Cambodia and Vietnam. Suncity Group has VIP rooms in all three.

Meanwhile, rumors circulating online questioning Suncity’s liquidity as a result of such challenges forced Chau to go public with details of the junket’s financials – an unprecedented move for an industry that has traditionally preferred to sail under the radar.

Following more rumors of a “bank run” on some Macau junkets, Chau stated, “We have the capability and enough capital to offset any bad debts and chip deposits of all clients. I would like to reiterate that Suncity is a very stable financial platform.”

Despite this, Suncity Group’s listed entity has continued to plow ahead with its aggressive move into the world of casino operations.

In June it held a soft opening of its Vietnam integrated resort Hoiana, a joint venture between Suncity, local firm VinaCapital and Hong Kong’s VMS Investment Group. Facilities currently up and running include Hoiana Casino – comprising 140 gaming tables and 300 slot machines – Hoiana Shores Golf Club, some F&B outlets and the first of four hotels.

The company has also increased its stake in Summit Ascent Holdings, which owns 60% of Russian casino Tigre de Cristal in Vladivostok, from 24.74% to 69.66%. The US$200 million Phase 2 expansion of Tigre de Cristal is due to open in 2022 adding new hotel space, bars, restaurants, retail and other non-gaming elements.

Late last year Suncity acquired a 51% stake in listed Philippines firm SunTrust Home Developers Inc which in turn reached an agreement to develop and operate a US$700 million casino and hotel in Manila’s new Westside City Resorts World township.

And a newly opened office in Wakayama highlights the company’s plans to develop an integrated resort in Japan.

Clearly Chau himself has confidence in Suncity’s future: in April he exchanged loans he had personally granted the listed arm totaling HK$3.88 billion (US$500 million) into perpetual securities to providing added financial certainty, then committed to provide additional funds up to another HK$6 billion (US$775 million) if needed.

Clearly Chau’s ambition remains as unwavering as ever.

For the full list of 2020 Asian Gaming Power 50 winners, click here.

Tags: Alvin ChauCurrent IssueSuncity Group
Share24Share4
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Oz Casinos: What now?

Editorial: Does the foreigner-only casino model work?

by Ben Blaschke
Thu 28 Apr 2022 at 15:28

The COVID-19 pandemic, along with the international border closures it forced, is one of a number of recent headwinds to...

Oz Casinos: What now?

Oz Casinos: What now?

by Ben Blaschke
Thu 28 Apr 2022 at 15:14

With three inquiries into Crown Resorts completed, a review into Star Entertainment Group underway and a litany of damning findings...

Off Track: AUSTRAC’s AML Failures

Off Track: AUSTRAC’s AML Failures

by Ben Blaschke
Thu 28 Apr 2022 at 13:16

Australia’s anti-money laundering watchdog has launched civil proceedings against Crown Resorts in what appears to be a reaction to its...

Locals Game

Locals Game

by Ben Blaschke
Thu 28 Apr 2022 at 13:05

IAG recently spoke with Shaun McCamley, former President at integrated resort The Grand Ho Tram Strip on Vietnam’s south-east coast,...

Related Posts

Higher Powers

Higher Powers

by Ben Blaschke
Tue 7 Dec 2021 at 18:14

IAG takes a look back at this year’s Asian Gaming Power 50 Gala Dinner, held at Wynn Palace, Macau on Friday 5 November 2021.

2021 Asian Gaming Power 50: Power Hour

2021 Asian Gaming Power 50: Power Hour

by Andrew W Scott
Tue 9 Nov 2021 at 13:04

When the Asian Gaming Power 50 was first published in 2008, we could never have imagined that, some 13 years later, it would have developed into one of the most anticipated releases on the annual calendar. What began as a...

2021 Asian Gaming Power 50: Meet the panel

2021 Asian Gaming Power 50: Meet the panel

by Newsdesk
Tue 9 Nov 2021 at 11:37

ANDREW W SCOTT (JUDGING PANEL CHAIRMAN) Vice Chairman and CEO, Inside Asian Gaming ANDREW is a gaming industry expert and media publisher, commentator and advisor. He has lived in Macau for more than 12 years. He is Vice Chairman and...

2021 Asian Gaming Power 50: The Next Five

2021 Asian Gaming Power 50 list

by Newsdesk
Tue 9 Nov 2021 at 08:00

The 2021 Asian Gaming Power 50 list.


HKUST

Simple Play

IAG

© 2005-2022
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • Contributors
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Consulting
  • Magazines
  • Advertise
  • Contact
  • About
  • 中文
  • 日本語

© 2005-2022
Inside Asian Gaming.
All rights reserved.