Summit Ascent, Suncity Group new Hong Kong neighbors

An affiliate of Macau’s leading casino junket operator Suncity Group has moved its corporate headquarters next door to Primorye casino operator Summit Ascent Holdings.

On Thursday, Summit Ascent’s board of directors informed the Hong Kong Stock Exchange that it had relocated its principal place of business to Unit 1704 on the 17th floor of the West Tower of Hong Kong’s Shun Tak Centre, a commercial complex built by former Macau casino icon Stanley Ho.

On Friday, Suncity Group Holdings Ltd announced that it had relocated its principal place of business to Unit 1705 on the 17th floor of the West Tower of Hong Kong’s Shun Tak Centre.

In other words, the two companies are now next-door neighbors. It’s unclear precisely what this means for the future of both companies, but their mutual leadership apparently sees value in eliminating the space between them.