During this year, the second phase of Hoiana Resort & Golf, a beachside holiday complex with foreigner-only casino on Vietnam’s central coast, will be accelerated, “with an estimated new investment of US$1 billion”, across “nearly 209 hectares” (516 acres). That is according to the property’s developer and operator Hoi An South Development Ltd (HASD).
GGRAsia has approached the operator regarding the key components of the new investment.
In the Saturday release, the complex’s operator noted that the second phase – described as its commitment to contribute to the development of its host region – is expected to create an “additional 2,500 direct jobs and 5,000 indirect jobs” over the next two years. Hoiana (pictured) is at Hoi An, in Quang Nam province.
Hoi An South Development has also mentioned that it has, to date, “disbursed US$1.4 billion” of its “total registered investment of US$4 billion” for the entire casino resort complex development.
The company also said it has contributed “more than VND790 billion [US$31.14 million]” to the state budget, which made it the “largest tax-paying FDI [foreign direct investment] enterprise in Quang Nam province”.
The release highlighted that the property’s newly-appointed chief executive Alan Teo arrives at “a crucial juncture”.
Mr Teo’s posting has been effective from February 3, the release said. It follows the stepping down of former Hoiana president and chief executive Steve Wolstenholme, amid leadership changes at the property.
The new boss was cited as saying: “I am truly honoured to join the exceptional team at Hoi An South Development Ltd as the CEO.”
He added: “HASD has established itself as a pioneering force in the gaming and hospitality industry, and I look forward to building upon its legacy of excellence.”
Mr Teo was most recently the chief operating officer of Universal Hotels and Resorts Inc, the promoter of the NUSTAR Resort & Casino in Cebu, Philippines.
Prior to joining Universal Hotels in late 2022, Mr Teo spent nearly 13 years at the Resorts World Sentosa complex in Singapore, the last three as that property’s COO.
