Entertainment company linked to Suncity proposes name change to Yeah Yeah Group
Sun Entertainment Group Limited aims to “improve its corporate image,” distancing itself from Suncity’s junket operations.
Macau.- Sun Entertainment Group Co, a media and entertainment company linked to Suncity founder Alvin Chau, has proposed to shareholders that it change its English name to Yeah Yeah Group Holdings Limited. The group also wants to abandon its existing Chinese name to “improve its corporate image.”
The decision would remove references to the Suncity brand to better reflect “the business and its future direction.”
Suncity’s founder Alvin Chau Cheok Wa was arrested in November 2021 over cross-border gambling and money laundering accusations. After the arrest, Suncity Group Holdings closed all of its VIP rooms in Macau and the company was soon dissolved.
Sun Entertainment Group has produced more than 150 films and has organised more than 90 concerts, exhibitions and plays in Hong Kong, Macau and elsewhere. The company’s last full-year revenue was HK$34.9m, an improvement of almost 100 per cent from the preceding year.
Suncity Group has also decided to terminate its travel business. The unit, which accounted for 12.6 per cent of the group’s total revenue in 2021, had been suspended since the winding up of locally-licensed junket operator Suncity Gaming Promotions Limited (SCGPCL) on December 1, 2021.
Suncity said it had also taken the decision due to the disposal of its aircraft and the continued negative impact of the Covid-19 pandemic on the travel business.
