• 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 listco gives share of US$34mln loan for Hoiana

Jan 08, 2020 Newsdesk Latest News, Rest of Asia, Top of the deck  


Suncity listco gives share of US$34mln loan for Hoiana

A unit of Suncity Group Holdings Ltd is to lend just over US$17 million to the promoter of the under-development Hoiana casino resort in Vietnam, as part of a US$34-million loan to the scheme.

Hong Kong-listed Suncity Group Holdings is controlled by Alvin Chau Cheok Wa, the boss of Macau VIP gambling junket brand Suncity Group.

The Suncity brand is one of the investors in the Hoiana casino scheme (pictured in a promotional model), and the group’s listed company is to manage casino operations there, according to a May filing to the Hong Kong bourse. Hoiana has been described in press releases related to the project as a US$4-billion, multi-phase development.

It has been anticipated a first phase will open this year, although – at least when it launches - it will have no permission from the national government to allow economically-qualified Vietnamese players to gamble there.

In August 2018, Suncity Group Holdings said it had completed a deal that gave it a 34-percent share in the Vietnam casino scheme.

In a Tuesday filing, the listco said that its unit Star Admiral Ltd – an indirect wholly-owned subsidiary registered in the British Virgin Islands (BVI) – would advance US$17 million to the Hoiana scheme’s promoter, Gold Yield Enterprises Ltd, another BVI firm. The latter is 50 percent owned by Star Admiral and 50 percent by Alpha Era Investments Ltd, a BVI entity described as an “independent third party” relative to Suncity Group Holdings.

Suncity Group Holdings said in its Tuesday announcement to the Hong Kong bourse: “In light of the increasing demand for tourism-related business in the Southeast Asia region, the board holds a positive outlook for the project in the future and it is expected that the group will benefit from the future success of Gold Yield Enterprises.”

The parent group is also involved in “provision of hotel and integrated resort general consultancy service in Vietnam and Cambodia,” noted the filing.


  • tweet
Related articles
  • Vietnam’s Hoiana says has several partners to bring biz
    Vietnam’s Hoiana says has several...

    Mar 22, 2023  

  • Let’s Win hosts grand opening for club at Hoiana in Vietnam
    Let’s Win hosts grand opening for...

    Mar 20, 2023  

More news
  • Main-building work at Naga 3 begins mid-2023: NagaCorp
    Main-building work at Naga 3 begins...

    Mar 24, 2023  

  • Macau diversification into non-gaming to remain slow: Fitch
    Macau diversification into non-gaming...

    Mar 24, 2023  


Latest News

Main-building work at Naga 3 begins mid-2023: NagaCorp

Main-building work at Naga 3 begins mid-2023: NagaCorp

Mar 24, 2023  

Piling work for Naga 3, an addition to the NagaWorld gaming complex in Cambodia’s capital Phnom Penh, was at “96 percent completion”, said the promoter’s 2022 annual report, issued on...
Read More
Macau diversification into non-gaming to remain slow: Fitch

Macau diversification into non-gaming to remain slow: Fitch

Mar 24, 2023  

Osaka to up ‘gambling addiction’ centres before IR opens

Osaka to up ‘gambling addiction’ centres before IR

Mar 24, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


April 8, 2028

Completion deadline for 'Marina Bay Sands 2.0', as authorised by Singapore’s authorities



Most Popular

  • Sands China woos Singaporeans as Air Macau opens routeSands China woos Singaporeans as Air Macau opens route March 23, 2023
  • March 18 Macau arrivals nearly 100k, best since pandemicMarch 18 Macau arrivals nearly 100k, best since pandemic March 23, 2023
  • Contractor named, work starts for Wynn UAE schemeContractor named, work starts for Wynn UAE scheme March 23, 2023
  • LVS gets 1-year extension for Marina Bay Sands 2.0 startLVS gets 1-year extension for Marina Bay Sands 2.0 start March 24, 2023
  • Universal Ent affiliate to develop land next to Okada ManilaUniversal Ent affiliate to develop land next to Okada Manila March 24, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us