• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Hoaina hotel rooms in phases as Suncity listco reports GGR

Aug 31, 2020 Newsdesk Latest News, Rest of Asia, Top of the deck  


Hoaina hotel rooms in phases as Suncity listco reports GGR

Suncity Group Holdings Ltd says the hotel rooms at the Hoiana casino resort scheme in Vietnam “will be rolled out in phases according to the demand of the market,” amid the impact of Covid-19. The information, including the first gross gaming revenue (GGR) data for the scheme, was included in the company’s interim report filed on Friday to the Hong Kong Stock Exchange.

A preview of Hoiana operations, including its casino, started on June 28. The company had previously noted that a full opening of the property was due to take place in 2021.

Suncity Group Holdings, controlled by Macau junket boss Alvin Chau Cheok Wa, is involved in either casino-project investments or provision of casino resort services in multiple markets in Asia, including the Philippines, Vietnam and Russia.

The group reported a loss attributable to shareholders of nearly CNY118.6 million (US$17.3 million) for the first half of 2020, down from CNY1.25 billion a year earlier. The first-half 2019 result had been impacted by a CNY1.07-billion impairment related to a change in fair value of derivative financial instruments.

Group-wide revenue for the six months to June 30 fell by 69.5 percent year-on-year to just above CNY93.7 million, as the group’s operations were “hindered” by the pandemic and related travel restrictions, it said.

The Suncity brand is one of the investors in Vietnam’s Hoiana casino scheme, and the group’s listed company is to manage casino operations there, according to previous filings.

In Friday’s filing, the company said it had received “positive” initial feedback from guests at Hoiana. The scheme recorded negative GGR of US$1.5 million for the first three days of operations in June, but “positive GGR in both July and August,” stated Suncity Group Holdings.

The company said that Hoaina’s original marketing and promotional plans had been affected by Covid-19, with the group “temporarily” shifting its aim from international tourists to foreign passport holders in its domestic market.

“Given current market situation, hotel rooms will be rolled out in phases according to the demand of the market to balance cost and benefits,” it added.

The group also said that renovation works at the Tigre de Cristal casino resort (pictured) in the Russian Far East had resumed. Hong Kong-listed Summit Ascent Holdings Ltd, the lead promoter of the scheme, reported last week a first-half loss of HKD47 million (US$6.1 million).

Suncity Group Holdings is the largest shareholder of Summit Ascent. The firm is in the process of increasing its stake in the latter company.

Suncity Group Holdings is also involved in the development of a casino resort project in the Philippine capital, Manila. The firm said in its results announcement release that piling works for the project “restarted in June 2020,” and that the main casino hotel was expected to be launched by 2023.

In a letter included in a separate release on Friday, Mr Chau said that Suncity Group Holdings remained “well-funded” amid the pandemic, adding that he was personally funding the group because he “believed in the long-term development of Suncity.”

The company announced a fortnight ago that Mr Chau was exchanging a series of shareholder loans to the company – amounting in aggregate to HKD3.88 billion – for a set of “perpetual securities”.


  • tweet
Related articles
  • Macau November GGR down 18pct on October: govt
    Macau November GGR down 18pct on...

    Dec 01, 2023  

  • Philippine 2023 GGR likely 5pct up on 2019: consultancy
    Philippine 2023 GGR likely 5pct up on...

    Nov 30, 2023  

More news
  • Welcome mat, pricey hotels drag Macau MICE: sector
    Welcome mat, pricey hotels drag Macau...

    Dec 01, 2023  

  • Kangwon Land Inc CEO Lee Sam-Geol resigns: reports
    Kangwon Land Inc CEO Lee Sam-Geol...

    Dec 01, 2023  


Latest News

Welcome mat, pricey hotels drag Macau MICE: sector

Welcome mat, pricey hotels drag Macau MICE: sector

Dec 01, 2023  

Fresh event space in casino resorts is welcomed by Macau’s meetings, incentives, conferences and exhibitions (MICE) sector, but visitors’ reception on arrival in the city, high hotel prices, and...
Read More
Kangwon Land Inc CEO Lee Sam-Geol resigns: reports

Kangwon Land Inc CEO Lee Sam-Geol resigns: reports

Dec 01, 2023  

Paradise Co Nov casino rev top US$43mln, down sequentially

Paradise Co Nov casino rev top US$43mln, down sequentially

Dec 01, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”We committed to the government to provide a full business idea and plan for Phase 1b around 12 months after the casino opens, therefore, probably early 2025”

Chen Si

President of the Mohegan Inspire Entertainment Resort in South Korea



Most Popular

  • Macau November GGR down 18pct on October: govtMacau November GGR down 18pct on October: govt December 1, 2023
  • Welcome mat, pricey hotels drag Macau MICE: sectorWelcome mat, pricey hotels drag Macau MICE: sector December 1, 2023
  • Mohegan Inspire still eyes 1Q24 casino debut: presidentMohegan Inspire still eyes 1Q24 casino debut: president December 1, 2023
  • Kangwon Land Inc CEO Lee Sam-Geol resigns: reportsKangwon Land Inc CEO Lee Sam-Geol resigns: reports December 1, 2023
  • Inspire Arena leads Mohegan debut in Asia gaming resort bizInspire Arena leads Mohegan debut in Asia gaming resort biz November 30, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us