• 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

Suncity Group delays buying stake in Vietnamese casino 

Jun 01, 2018 Newsdesk Latest News, Rest of Asia, Top of the deck  


Suncity Group delays buying stake in Vietnamese casino 

Macau junket investor Alvin Chau Cheok Wa’s Hong Kong-listed Suncity Group Holdings Ltd announced on Thursday it has postponed the completion of its purchase of a 34-percent share in a Vietnamese casino scheme.

The HKD600-million (US$76.8-million) deal was to be finalised on Thursday. The new deadline is July 31.

Suncity told the Hong Kong Stock Exchange that the buyer and seller had agreed to postpone the deal because “additional time is required for the fulfilment of certain conditions”.

The official announcement does not specify any conditions and says completion may be further postponed. The buyer says all the other terms remain unchanged.

The seller is Suncity International Holdings Ltd, a company wholly owned by Mr Chau that is based in the British Virgin Islands.

Suncity announced the deal in July last year. A subsidiary, Goal Summit Ltd, intends to acquire all 50,000 shares in Star Admiral Ltd with a promissory note worth HKD303 million and HKD297 million in convertible bonds.

Star Admiral owns a stake in a casino project in Hoi An, in the central Vietnamese province of Quang Nam.

The casino project is a venture by Hoi An South Development Ltd, which also involves the Vietnamese asset manager VinaCapital Group and a subsidiary of Hong Kong’s Chow Tai Fook Enterprises Ltd.

The first of the project’s seven phases will deliver a casino with 140 tables and about 1,000 slot machines, a golf course, hotel rooms and suites, and a condominium hotel.

Augustine Ha Ton Vinh, an academic who says he has been advising the Vietnam government on liberalising the gaming industry, has suggested the Hoi An casino would be among a second batch of casino resorts allowed to offer gambling for locals under a national pilot scheme.


  • tweet
Related articles
  • Donaco posts US$1.3mln 4Q EBITDA, flags positive outlook
    Donaco posts US$1.3mln 4Q EBITDA, flags...

    Jan 31, 2023  

  • Chau ruling marks end of old junket system: observers
    Chau ruling marks end of old junket...

    Jan 18, 2023  

More news
  • Return of tours good for mass floor traffic: observers
    Return of tours good for mass floor...

    Feb 03, 2023  

  • S.Korea casino op GKL’s January sales up 230pct y-o-y
    S.Korea casino op GKL’s January...

    Feb 03, 2023  


Latest News

Return of tours good for mass floor traffic: observers

Return of tours good for mass floor traffic: observers

Feb 03, 2023  

The imminent return of package tours from mainland China will not only help boost Macau’s tourism businesses, but is also expected to help casinos gain more foot traffic in their mass gaming...
Read More
S.Korea casino op GKL’s January sales up 230pct y-o-y

S.Korea casino op GKL’s January sales up 230pct y-o-y

Feb 03, 2023  

Aristocrat completes acquisition of Roxor Gaming

Aristocrat completes acquisition of Roxor Gaming

Feb 03, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”We are confident that the Philippine gaming sector will be able to fully recover, or even surpass its pre-pandemic earnings soon”

Alejandro Tengco

Chairman and chief executive of Pagcor



Most Popular

  • Jaw-dropping wagers in Macau CNY survey: CitigroupJaw-dropping wagers in Macau CNY survey: Citigroup February 2, 2023
  • Mainland tour groups to Macau to resume Feb 6: govtMainland tour groups to Macau to resume Feb 6: govt February 3, 2023
  • Return of tours good for mass floor traffic: observersReturn of tours good for mass floor traffic: observers February 3, 2023
  • Aruze Gaming America opts financial rejig after legal matterAruze Gaming America opts financial rejig after legal matter February 2, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us