Suncity Group will help in the implementation of the casino resort project in Cambodia
The company, registered in Hong Kong, will offer consulting and management services for the development of casinos in Cambodia.
Suncity Group Holdings Ltd announced the signing of an agreement on the provision of consulting and management services for the development of casinos in Cambodia. Suncity Group Management and Consultancy Ltd and the Golden Sun Sky Entertainment Co Ltd, registered in Cambodia, signed a strategic partnership agreement on Wednesday, September 5.
The casino-resort will be located on the beach of Otres, Sihanoukville, near the Vietnamese island of Phu Quoc, where several complex resorts are already located. It will include casinos, hotels, restaurants, shopping areas, conference rooms. The facility will be designed taking into account the estimated investments of € 310 million. Its opening is planned for late 2019.
Suncity Management and Golden Sun Sky will also cooperate in further projects aimed at exploring new markets. Despite the disclosure of details of the transaction, the amount of duties was not named.
Golden Sun Sky was founded in March 2017 and is part of the China Yunnan Jingcheng Group Co Ltd investment company.
In May this year, Golden Sun Sky announced plans to extend the maturity of convertible bonds in circulation worth HKD 570 million.
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