Alvin Chau Check Wa, founder and chairman of Macau junket brand Suncity Group, has been appointed non-executive director and chairman of Hong Kong-listed Summit Ascent Holdings Ltd., the promoter of the Russian Far East casino resort Tigre de Crystal.

Summit Ascent confirmed the move in a filing to the Hong Kong Stock Exchange on Friday.

The same announcement said Philip Wong Pak Ling, chief financial officer of privately owned Suncity Group, was appointed as a non-executive director of Summit Ascent.

In April, Suncity Group Holdings Ltd, a company cited by the Hong Kong Stock Exchange, said it had increased its interest in Summit Ascent's stock to about 27.97%. Suncity Group Holdings is controlled by Mr Chau.

Tigre de Crystal, near the Russian Pacific port of Vladivostok, has been targeting gamblers from neighboring China and other markets in East Asia.

Speaking to GGRAsia on the sidelines of the recent Global Gaming Expo Asia 2019 Casino Trade Fair and Conference in Macau, Eric Landheer, executive director of Summit Ascent, said the Suncity brand's involvement would be "significant positive" for Tigred Crystal.

A recent report by brokerage Union Gaming Securities Asia Ltd said VIP gambling sales at Russian casinos could increase by more than 250% in 2020 compared with the previous year due to SunCity's participation.

Some investment analysts say the junket brand is the single biggest contributor to VIP volume in the Macau gaming market.

Suncity Group Holdings, which has not included revenue streams from Macau gambling junkets in its reporting accounts, is increasing its gaming investments beyond Greater China, both in terms of new resorts such as Hoiana in Vietnam and deals to manage third-party-managed properties in other markets such as Cambodia.

BY: 온라인 슬롯