One of the most prominent Asian junket companies Suncity Group had just recently finalized a brand-new business deal. This twenty-year business deal will see one of the company’s successful subsidiaries become the major casino operator of the gambling facility which is located within the coming Resorts World Westside City venue in the Philippines.
Suncity Group Holdings Limited is a firm that is listed on the Hong Kong Stock Exchange. It primarily engages in the development of commercial and residential properties. Suncity Group also provides integrated resort and casino management with a travel agency and consultancy services. When it comes to the company’s latest business ventures, this Hong Kong-listed firm just revealed that its subordinate Suntrust Home Developers Incorporated has agreed to invest around $200 million to run the Resorts World Westside City’s casino until the 19th of August, 2039.
The company’s officials also told local news services including GGRAsia that this business contract can be automatically renewed for another twenty-five years. It was also revealed that the business contract comes with a provision that will see the company’s subsidiary Suntrust Home Developers Incorporated pay an annual rent of around $10.6 million to the coming Philippines Resorts World Westside City which is an arm of the Travellers International Hotel Group Incorporated company.
Travelers International Hotel Group Incorporated
As reported by GGRAsia, the Travellers International Hotel Group Incorporated firm is actually a joint business venture between Alliance Global Group Incorporated which is a Filipino conglomerate and Genting Malaysia Berhad which is an Asian casino behemoth. The two entities are building the Resorts World Westside City on a three hundred-acre land parcel which is located in the Entertainment City district of Manila.
The finished facility with all of its amenities is expected to open its doors to the public sometime in 2020. As revealed, it will feature a hotel space with four hundred rooms alongside a massive 1,959,031 square feet casino floor. The casino included in the facility will offer a great selection of games including over one thousand and two hundred slot games alongside four hundred mass-market and VIP gaming tables.
Suntrust Home Developers Incorporated as the Only Operator of the Casino
According to another reliable source, the business deal has also formalized another business arrangement which was concluded back in October. According to this deal, Suntrust Homer Developers Incorporated of Suncity Group has been granted the necessary rights to serve as the only as well as the exclusive manager and operators of the Resorts World Westside City’s main casino floor.
The same source also revealed that the coming facility will be a five-star venue that will feature a number of other amenities including a parking area with almost three thousand parking spaces, shopping malls, a theater, and others. The venue’s location is quite favorable as it is located very near to Manilla Ninoy Aquino International Airport.
When it comes to the Entertainment City district which sits on the 1,976-acre land parcel, it started welcoming its very first guests back in 2013. At the time, the Solaire Resort and Casino also opened its doors. Later on, Belle Corporation in partnership with Melco Resorts and Entertainment Limited debuted its City of Dreams Manila while in December of 2016, the Tiger Resort Leisure and Entertainment Incorporated of Universal Entertainment Corporation started welcoming visitors to its Okada Manila facility.