Inside Asian Gaming

IAG JAPAN MAY 2019 30 An artist’s impression of Golden Sun Sky’s Sihanoukville IR ゴールデン・サン・スカイのシアヌークビルの完成予想図 COVER STORY IAG: How did Suncity’s investment in Summit Ascent, which holds a majority share in Tigre de Cristal in Russia, come about? AL: They wanted to better understand the business so they said, “Can you come and join us? Do you see any synergy?” They know we are the largest junket but we don’t have a junket room at Tigre de Cristal. Why? Well, I told them what is missing from the building, what they should do and not do. I think the company is quite good. They pay low [gaming] tax and they are making a small profit every year so that is why I used company money to invest, around HK$810 million (Ed: Suncity Group acquired 29.77% in Summit Ascent Holdings Limited at an aggregate consideration of approximately HK$810 million). IAG: So you see Russia as a good opportunity? AL: You need to know what market you are selling to. If Russia wants to copy Macau then it will be dead. You need to find the selling point. At Tigre de Cristal, if we’re doing F&B and entertainment in Phase 2, what is the selling point of Russia as a traveller? I think vodka, caviar, night time entertainment and that’s it. So we said, “We need to target people staying a maximum of two nights and men who love night time entertainment, who love to drink. Come and visit a strip club, spend a bit more for the wine and food, keep some karaoke rooms for the Chinese. That’s the market. IAG: Suncity has also become partners with Paradise Co in Busan, Korea. Can you explain more about that investment? AL: Yes, we like the destination because in the neighbourhood there is going to be a huge 6-star hotel, a shopping mall and commercial buildings so I think it will attract a lot of tourists. After Korea’s troubles with China that affected tourist numbers a few years ago it has rebounded, but not that well in regards to the number of visitors, so that’s why it