Synectics updates market on Asia casino-resort project

The AIM-traded firm and its integration partner Empire Automation were awarded a contract in December to provide the surveillance system for Solaire Metro North - a large new-build casino resort in the Philippines.

It said the resort was being developed by Bloomberg Resorts, and was expected to be operational in late 2023.

However, the ongoing Covid-19 pandemic had caused delays and challenges to construction, with the resort now expected to open early next year.

Synectics said its integration partner had been working closely with the customer to determine the final composition of the solution, including camera selection and coverage.

That was now complete, with the company now receiving further purchase orders bringing the value of the project to around $3m.

Delivery was expected in the fourth quarter of the company's financial year ending 30 November.

The board said the surveillance system to be supplied by Synectics would consist of more than 3,000 channels, and incorporate the “latest-generation” recording solution and cameras.

It said the system would be similar to the one delivered to sister property, Solaire Resort & Casino in the 'Entertainment City' zone of Manila, in 2015.

“Whilst casino operations in the region have now largely returned to normal, expected projects across the sector are still experiencing delays,” said chief executive officer Paul Webb.

“It is heartening that this project is now proceeding, albeit later than previously expected.”

At 1127 BST, shares in Synectics were up 0.75% at 106.8p.

Reporting by Josh White for Sharecast.com.