Alvin Chau showing commitment to Suncity Group Holdings Limited

Home » Alvin Chau showing commitment to Suncity Group Holdings Limited

The main investor in Asian casino management firm Suncity Group Holdings Limited has reportedly transferred shareholder loans worth approximately $500 million into perpetual securities featuring no maturity date.

According to a report from Inside Asian Gaming, the Hong Kong-listed enterprise declared that the move from Alvin Chau (pictured) will allow it to ‘reduce its gearing ratio, enlarge its capital base and enhance its net asset position’ and represents a ‘strong injection of confidence’ that its largest backer is not concerned about its ability to repay.

Longstanding lifeline:

Inside Asian Gaming reported that Suncity Group Holdings Limited is the public arm of junket operator Suncity Group and oversees this firm’s operations and management as well as an assorted array of its own real estate interests in Macau and mainland China. The source detailed that the newly-created perpetual securities were issued yesterday and moreover include a discretionary option that will not require the firm to begin making interest and principal payments until at least 2030.

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Supplementary security:

Forty-six-year-old Chau serves as Chairman for Suncity Group Holdings Limited and purportedly also committed to providing the Hong Kong-headquartered firm with up to $775 million from his own pocket in the form of additional perpetual securities. Inside Asian Gaming reported that these extra funds are expected to be used to finance the company’s under-construction integrated casino resort projects in Vietnam, Russia and the Philippines.

Chau reportedly declared…

“Suncity Group Holdings Limited is riding on the fast-track of integrated resort development. I completely understand that a high growth company like this requires a lot of funds to expand. As the largest shareholder, the largest creditor and the Chairman of Suncity Group Holdings Limited, I am happy to dip into my own pockets to ensure that its expansion will go on. I am fully backing Suncity Group Holdings Limited and I am confident that it will soon turn into one of the most aspiring leaders in integrated resorts in Asia.”

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