The junket operator announced Tuesday that it had acquired SunTrust Home Developers Inc., a company listed in the Philippines.
In a separate statement, Suntrust said it has agreed to an agreement to operate the Westside casino and main hotel, one of several hotels planned for the complex.
The long-awaited Westside City, a provisional title, is currently under construction at Entertainment City, a special economic zone of Paranas in Metro Manila, which also houses Soller Resort & Casino, City of Dreams Manila and Okada Manila.
The complex is scheduled to open in 2024 as a large gambling, hospitality and entertainment complex, a complex property structure that will now be subject to the approval of SunCity – Philippines financial regulators.
Rise of a Junket
Ignoring the complex network of subsidiaries, Westside is ultimately a joint venture between Malaysian casino giant Genting and Alliance Global Group Inc., based in the Philippines, owned by Filipino billionaire Andrew Tan. Together, they are known as Travelers International.
Under CEO Alvin Chow, Suncity has gone from being a company that rented trips and money to big Chinese punters at a high-risk table in Wein Macao in 2007 to a billion dollar convertmort.
The company’s operational ambitions extend to its recent purchase of a controlling stake in a $ 4 billion integrated “Hoyana” complex in Vietnam later this year, as well as Vladivostok, Russia’s first integrated complex, Tiger of Krystal The pass is about to open.
But Suncity has had a challenging 2019. In July, the company became the center of attention of Chinese state media, accused of operating a multi-million dollar online gambling operation based in Cambodia and the Philippines. The operation allegedly targeted customers in mainland China, where the game is illegal.
A negative mention in the Chinese state media is often a chilling precursor to punitive action by the Chinese government, and, in particular, was when Suncity registered an interest in applying for a gaming license in Macau.
Meanwhile, the question will always be about the origin of the garbage industry, which was exacerbated by organized crime. Today the level of the trunk societies is inside the garbage, it is a matter of debate.
Chow has been accused of being a member of the Hong Kong 14K Triad by the Australian authorities and the Hong Kong Jockey Club.
These accusations have recently been re-imposed in the Australian press, which is investigating Crown Resorts’ relationships with Suncity and other junk groups.