• 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

Success Dragon drops deal to buy stake in Vietnam hotel

Jun 17, 2016 Newsdesk Latest News, Rest of Asia, Top of the deck  


Success Dragon drops deal to buy stake in Vietnam hotel

Gaming services firm Success Dragon International Holdings Ltd on Thursday announced that it was terminating an agreement to acquire a stake in a five-star hotel – as well as land for further development – in Danang, Vietnam.

The Hong Kong-listed firm had said in April it planned to pay – via a subsidiary – a total consideration of US$14.13 million for the entire issued share capital in Vabis Building Consultants and Engineering Ltd. Vabis would hold a 45-percent stake in a holding company to be incorporated in Vietnam that would own the hotel and plot of land in Danang.

The hotel targeted in the proposed deal was One Opera Danang Hotel (pictured), described as a five-star hotel and commercial complex and located in Vietnam’s fourth-largest city. The deal covered an electronic gaming machine club operated in the premises of the hotel.

In its Thursday filing, Success Dragon said it decided to terminate the acquisition agreement as the vendor – a Vietnamese businessman previously identified as My Ngoc Nguyen – had “difficulty in obtaining the requisite consent for the implementation of the [asset] reorganisation”.

The Success Dragon board stated that the termination of the acquisition agreement “will not have any material adverse impact on the operation, [the] business nor [the] financial position of the group.”

In December, Success Dragon said it had made two agreements to manage electronic gaming machines at gaming clubs in two five-star hotels in Vietnam, including at the One Opera Danang Hotel. Under the deal, Success Dragon was appointed as exclusive manager of games with prizes at the electronic gaming machine club at One Opera Danang Hotel for an initial term of 10 years.

On Tuesday, Success Dragon stated it was cancelling a proposed placement of convertible bonds announced two weeks earlier. The firm said it was “unable to agree on some of the key commercial terms” of the placing exercise with the placing agents.

Success Dragon reported a net loss of HKD231.5 million (US$29.8 million) for the fiscal year ended March 31, 2016. The group’s loss widened from the HKD47.3 million recorded in the previous year.


  • tweet
Related articles
  • 2023: maybe a reboot in Asia casino client profile
    2023: maybe a reboot in Asia casino...

    Dec 31, 2022  

  • Success Dragon slot mgmt revenue down 63pct, posts loss
    Success Dragon slot mgmt revenue down...

    Nov 29, 2022  

More news
  • Nearly 70k visitors to Macau on 6th day of CNY break
    Nearly 70k visitors to Macau on 6th day...

    Jan 27, 2023  

  • Monster Superlanche ups player fun, says Pragmatic Play
    Monster Superlanche ups player fun,...

    Jan 26, 2023  


Latest News

Nearly 70k visitors to Macau on 6th day of CNY break

Nearly 70k visitors to Macau on 6th day of CNY break

Jan 27, 2023  

Macau recorded 69,279 visitor arrivals on the sixth day of the Chinese New Year (CNY) holiday period, showed official data. The city welcomed about 384,600 visitors in the first six days of the...
Read More
Monster Superlanche ups player fun, says Pragmatic Play

Monster Superlanche ups player fun, says Pragmatic Play

Jan 26, 2023  

Cashless, process automation 2023 casino trend: JCM

Cashless, process automation 2023 casino trend: JCM

Jan 26, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”We are in very positive territory [in Macau] and keep moving upside”

Rob Goldstein

Chairman and chief executive of Las Vegas Sands



Most Popular

  • LVS flags strong recovery in Macau, capacity bottlenecksLVS flags strong recovery in Macau, capacity bottlenecks January 26, 2023
  • Macau visitor tally tops 318k in first 5 days of CNY breakMacau visitor tally tops 318k in first 5 days of CNY break January 26, 2023
  • CNY may deliver 50pct pre-Covid mass GGR in Macau: JPMCNY may deliver 50pct pre-Covid mass GGR in Macau: JPM January 25, 2023
  • 71pct of Sands China licence spend for venues says parent71pct of Sands China licence spend for venues says parent January 26, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us