{"id":275,"date":"2024-06-28T06:42:12","date_gmt":"2024-06-28T03:42:12","guid":{"rendered":"https:\/\/cryptoleopromocode.icu\/2024\/06\/28\/suncity-board-will-take-extreme-steps-to-concentrate-on-endurance\/"},"modified":"2024-06-28T06:42:12","modified_gmt":"2024-06-28T03:42:12","slug":"suncity-board-will-take-extreme-steps-to-concentrate-on-endurance","status":"publish","type":"post","link":"https:\/\/cryptoleopromocode.icu\/2024\/06\/28\/suncity-board-will-take-extreme-steps-to-concentrate-on-endurance\/","title":{"rendered":"Suncity board will take extreme steps to concentrate on endurance"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/dGMP5vbM3Os\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>The Suncity leadership will take extreme steps to &#8220;concentrate on endurance&#8221; &#8211; Finance &#8211; iGB<\/p>\n<p>The management of the struggling resort operator Suncity will implement a &#8220;strict cash preservation&#8221; and &#8220;unyielding cost reduction&#8221; plan to ensure the continued operation of the enterprise.<\/p>\n<p>Home > Finance > Suncity board will take extreme steps to &#8220;concentrate on endurance&#8221;<\/p>\n<p>Suncity&#8217;s board of directors will take extreme steps to &#8220;concentrate on endurance&#8221;<\/p>\n<p>The gambling intermediary experienced turmoil at the end of 2021 and the beginning of 2022 after the group&#8217;s chairman, Alvin Chau, was apprehended in November. Following the event, Suncity ceased its gambling brokerage business.<\/p>\n<p>Alvin Chau has stepped down from all positions at Suncity. He was accused of running illegal online gambling websites.<\/p>\n<p>After Chau&#8217;s apprehension, Suncity also became the focus of loan default claims, as an anonymous lender alleged that Chau had broken a HK$313.6 million debt. As a result, Suncity warned that the business could be taken over by creditors.<\/p>\n<p>In March, the company claimed that Goldin Enterprises failed to repay a $30 million loan to Suncity. Goldin Enterprises is a joint venture between Suncity&#8217;s subsidiary Starfleet and Alpha Era, an investment trust related to the Hoiana resort in Vietnam.<\/p>\n<p>A week later, Suncity warned that the group had &#8220;significant doubt about its ability to continue as a going concern&#8221; as it reported a net loss of HK$646.2 million (\u00a362.8 million\/\u20ac74 million\/$82.6 million) for 2021. <\/p>\n<p>The firm has encountered financial setbacks over the past two years due to travel limitations in its primary markets and the subsequent shutdown of its exclusive guest areas. <\/p>\n<p>The firm is currently making every effort to remain operational. <\/p>\n<p>&#8220;The governing body has directed the company to consolidate all assets and prioritize survival,&#8221; stated the board of Melco Resorts. &#8220;Rigorous cash preservation is the group&#8217;s utmost priority. The group is implementing the most stringent cost-reduction plan ever. Non-essential ventures have been and will continue to be divested, such as the disposal of mainland China property and aircraft in 2021.<\/p>\n<p>&#8220;Management has also transformed the City of Dreams into a temporary isolation facility; actively reducing operational expenses while striving to minimize disruption to the guest experience at City of Dreams as a top-tier integrated resort.<\/p>\n<p>&#8220;In Japan, the group may consider selling hotel development land in Niseko and Miyakojima.&#8221;<\/p>\n<p>The company&#8217;s Summit Ascent subsidiary manages the &#8220;Tiger Crystal&#8221; resort in Vladivostok, Russia. The governing body stated that the business was performing well. However, the company deferred plans to expand the resort following Russia&#8217;s incursion into Ukraine in February.<\/p>\n<p>&#8220;In Russia, the local mass market and slot machine business have enabled Tiger Crystal to be self-sustaining and generate positive earnings before interest, taxes, depreciation, and amortization,&#8221; the board stated. <\/p>\n<p>The groups&#8217; continued production of earnings before interest, taxes, depreciation, and amortization (EBITDA), cash conservation, and self-sufficiency will keep it afloat and functioning.<\/p>\n<p>The board also stated that, as the Macau junket model is now in doubt, it will attempt to reposition itself as a comprehensive resort operator.<\/p>\n<p>&#8220;With Macau effectively now out of the VIP brokerage business, there is a relatively limited supply of high-end gaming facilities in Asia to fulfill this expanding need,&#8221; it stated. &#8220;As the group continues its metamorphosis into a pan-Asian integrated resort operator, it will target all traditional gaming segments, including VIP, premium mass, mass, slots, and non-gaming.<\/p>\n<p>&#8220;Moreover, the board will concentrate resources on areas with the most robust returns and lowest risk.&#8221;<\/p>\n<p>Sign up for the iGaming newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Suncity leadership will take extreme steps to &#8220;concentrate on endurance&#8221; &#8211; Finance &#8211; iGB The management of the struggling resort operator Suncity will implement a &#8220;strict cash preservation&#8221; and &#8220;unyielding cost reduction&#8221; plan to ensure the continued operation of the enterprise. Home > Finance > Suncity board will take extreme steps to &#8220;concentrate on [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Suncity Takes Extreme Measures for Survival<\/title>\n<meta name=\"description\" content=\"Suncity\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoleopromocode.icu\/2024\/06\/28\/suncity-board-will-take-extreme-steps-to-concentrate-on-endurance\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Suncity board will take extreme steps to concentrate on endurance\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Suncity\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoleopromocode.icu\/2024\/06\/28\/suncity-board-will-take-extreme-steps-to-concentrate-on-endurance\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Your One-Stop Shop for Licensed Online Casino Games &amp; Updates\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-28T03:42:12+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cryptoleopromocode.icu\/2024\/06\/28\/suncity-board-will-take-extreme-steps-to-concentrate-on-endurance\/\",\"url\":\"https:\/\/cryptoleopromocode.icu\/2024\/06\/28\/suncity-board-will-take-extreme-steps-to-concentrate-on-endurance\/\",\"name\":\"Suncity Takes Extreme Measures for Survival\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoleopromocode.icu\/#website\"},\"datePublished\":\"2024-06-28T03:42:12+00:00\",\"dateModified\":\"2024-06-28T03:42:12+00:00\",\"author\":{\"@id\":\"https:\/\/cryptoleopromocode.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"Suncity\",\"breadcrumb\":{\"@id\":\"https:\/\/cryptoleopromocode.icu\/2024\/06\/28\/suncity-board-will-take-extreme-steps-to-concentrate-on-endurance\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cryptoleopromocode.icu\/2024\/06\/28\/suncity-board-will-take-extreme-steps-to-concentrate-on-endurance\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/cryptoleopromocode.icu\/2024\/06\/28\/suncity-board-will-take-extreme-steps-to-concentrate-on-endurance\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/cryptoleopromocode.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Suncity board will take extreme steps to concentrate on endurance\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/cryptoleopromocode.icu\/#website\",\"url\":\"https:\/\/cryptoleopromocode.icu\/\",\"name\":\"Your One-Stop Shop for Licensed Online Casino Games &amp; Updates\",\"description\":\"Unlock the secrets of casino success through our comprehensive news, detailed game reviews, and expert articles. 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