GGRAsia – Hoiana gets casino licence in Vietnam: Suncity listco

Hoiana gets casino licence in Vietnam: Suncity listco

May 15, 2020 Newsdesk Latest News, Rest of Asia, Top of the deck

Hong Kong-listed Suncity Group Holdings Ltd, controlled by the boss of Macau junket group Suncity Group, said in a Friday press release that a company where it is an investor had received a decades-long casino business licence for the Hoiana casino resort in Vietnam.

The firm referred to the permit issued by the Ministry of Finance and valid – including potential extensions – until December 10, 2080 as a “casino operating licence”.

The Suncity brand is one of the investors in the Hoiana casino scheme, and the group’s listed company is to manage casino operations there, according to previous filings. Hoiana has been described in press releases related to the project as a US$4-billion, multi-phase development.

Alvin Chau Cheok Wa, chairman of Suncity Group Holdings, was cited in the release saying he was “thrilled” that Hoiana had been “granted [a] casino operating licence”. He added it represented a “true metamorphosis for Suncity,” from a Macau junket brand to a casino resort operator in its own right.

The firm reiterated a March announcement that “the full opening of Hoiana is scheduled to happen in 2021 while an exclusive preview will be held in summer 2020”.

According to previous commentary by the management, Hoiana will not – initially at least – be part of Vietnam’s pilot scheme to allow economically-qualified locals to gamble.

The announcement said Hoi An South Development Co Ltd – a joint venture of the listed company via an indirect equity interest of approximately 34 percent – had been granted “certification for the eligibility for casino business”.

The development entity is allowed to organise casino business activities according to the time limit specified in an investment registration certificate.

The document also gave some information on hotel brands for the resort. Phase 1 would include: four hotels offering over 1,000 rooms, suites and villas, including the all-suite Hoiana Hotel and Suites with 24-hour butler service; New World Hoiana Hotel and Residences, a luxury hotel that caters for short-term and long-term guests; KHOS Hoiana, described as a “brand-new hospitality concept” including “social hubs”.

There would also be a Rosewood Hoi An property, to be opened later, featuring villas.

The beachfront property in Quang Nam province, on Vietnam’s central coast, will also have a beach club. An 18-hole golf course was opened on March 2.

The property is also said to be offering an “array of food and beverage and retail brands,” and “performances and entertainment activities for both gaming and non-gaming guests”.