- Legal States
Rachael Price May 24, 2019 3 min read
Suncity Officially to Sponsor Macau Grand Prix in November
- Suncity to sponsor Macau Grand Prix
- The Group continues to diversify operations
- Suncity continues to build brand awareness
Suncity Group has been confirmed as the official sponsor of the 66th Macau Grand Prix which will bear the name of Macau’s largest junket operator.
Suncity Group Sponsors the 66th Macau Grand Prix
VIP gaming investor Suncity Group will again sponsor the Macau Gran Prix,held on November 14, which will be the company’s sixth consecutive year of landing its support for the motor racing event.
On Wednesday, May 22, the Macau Grand Prix Organizing Committee Coordinator, Pun Weng Kun and Suncity Group Executive Gina Lei signed a sponsorship partnership during an official meeting. As per the agreement, the motorsports event name will be prefixed by the company’s own and thus become the “Suncity Group 66th Macau Grand Prix”.
While financial details weren’t specifically disclosed, Suncity Group representatives shared that the company was contributing $3.1 million to the 2019’s edition. Meanwhile, Suncity Group is said to be on its way to becoming the largest junket operator in Macau.
Suncity is focused on high-rollers and VIP Chinese casino customers in Macau and so far as the junket business goes, Suncity is said to be the leading brand. The continuous investment in Macau is intentional, as the operator is also interested in breaking into the gaming hub with a casino of its own.
The company has been busy trying to break away from its dependency on high-rollers in Macau specifically and diversify its markets by entering competitive markets in Cambodia, Vietnam, and the Philippines.
Diversifying the Portfolio Beyond Macau
As to Vietnam in particular, the company has revealed its recent plans to try and whip up interest in VIP Baccarat games in the country. Suncity has long been concerned by the withdrawing number of Chinese big-spending customer from Asia’s gaming hub.
Hopefully to pick the scattering pieces, the Group is investing more in other markets. Asia is also quickly changing and becoming more competitive as US brands are arriving in places like South Korea and Japan where an oncoming Integrated Resort (IR) project threatens to bite into the profits of Macau and South Korea.
Suncity’s investment portfolio has been diversifying at a good pace with the help of smart investment. The company’s Hoiana resort in Vietnam will hopefully prove a new and exciting draw for high-paying customers. Suncity also owns investments in Tigre de Cristal in Russia, and the company has been consolidating its control over smaller operations in Cambodia.
By sponsoring the Macau Grand Prix, Suncity is hoping to get more prominence among motorsports fans and achieve better brand awareness overall.
Rachael is a veteran gaming journalist with over 9 years of writing experience but has only just started within the gambling industry. She has built a keen interest within the iGaming sector over the years from exposure at events and intends to translate her passion into publications here at GamblingNews.com to keep our readers updated with the latest developments.
Casino May 24, 2019