• 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
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Vietnam Van Don scheme to open in Mar 2019: Suncity

Sep 25, 2017 Newsdesk Latest News, Rest of Asia, Top of the deck  


Vietnam Van Don scheme to open in Mar 2019: Suncity

A casino resort scheme being developed in Van Don district, in Vietnam’s Quang Ninh province, is tentatively scheduled to open on March 31, 2019, announced one of the service providers to the project.

“The project owner… anticipate[s] that the opening date of the project will be March 31, 2019 or another date which shall be prior noticed by the project owner,” Hong Kong-listed Suncity Group Holdings Ltd said in a Friday announcement.

The group is chaired by Alvin Chau Cheok Wa (pictured). The listed entity does not currently have in its portfolio any gaming-related assets or any of the Macau junket-related businesses of privately-held Suncity Group. The latter is also chaired by Mr Chau.

The Van Don casino property is being promoted by Van Don Sun Joint Stock Co.

The announcement of the opening date was included in a filing about an agreement signed by the promoter of the Van Don scheme and a Macau-incorporated subsidiary of Suncity Group Holdings, called Suncity Group Management and Consultancy (Van Don) Ltd. The latter is to provide “technical services” related to the opening of the Vietnam property.

“The entering into of the technical services agreement represents the first step of the group to provide consultancy, advisory and technical services for large scale resorts with gaming and entertainment facilities,” Suncity Group Holdings said.

It added: “The company will continue to expand its business scope in order to maximise returns for its shareholders.”

Suncity Group Holdings said its subsidiary would be paid US$500,000 – divided into two payments – for its services. If the agreement is extended beyond April 2018, Suncity Group Management and Consultancy will be entitled to a monthly fee of US$41,667, according to Friday’s filing.

Suncity Group Holdings said in July that it would acquire a 34-percent stake in a casino project in Vietnam’s Hoi An region for a total consideration of HKD600 million (US$76.8 million).

According to an August note from brokerage Union Gaming Securities Asia Ltd, Vietnam’s casino gross gaming revenue (GGR) nationally currently is worth between US$800 million and US$1.2 billion annually. Play by locals could help to increase annual GGR, the institution said in the note.

The Vietnamese government published in January a decree that paves the way for selected domestic casinos to accept bets from Vietnamese gamblers, for a trial three-year period. There has been no official announcement from the Vietnam government regarding the locations chosen for such an experiment.


  • tweet
Related articles
  • Border casino op Donaco posts positive EBITDA for Jul-Dec
    Border casino op...

    Feb 26, 2021  

  • Suncity listco US$24mln cash under China property disposal
    Suncity listco US$24mln cash under...

    Feb 22, 2021  

More news
  • Aristocrat to launch EGM-based responsible gaming features
    Aristocrat to launch EGM-based...

    Feb 26, 2021  

  • Suncity to open clubs at Londoner Macao, Lisboa Palace
    Suncity to open clubs at Londoner...

    Feb 26, 2021  


Latest News

Aristocrat to launch EGM-based responsible gaming features

Aristocrat to launch EGM-based responsible gaming features

Feb 26, 2021  

Casino slot machine maker and digital games provider Aristocrat Leisure Ltd says it plans to launch in the first quarter this year a new product with responsible gaming features, which has already...
Read More
Suncity to open clubs at Londoner Macao, Lisboa Palace

Suncity to open clubs at Londoner Macao, Lisboa Palace

Feb 26, 2021  

Tech supplier Crane ups forecast for 2021 core sales

Tech supplier Crane ups forecast for 2021 core sales

Feb 26, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day


US$53.4 million

Adjusted EBITDA reported by Asian casino operator Melco Resorts and Entertainment for the fourth quarter of 2020



Most Popular

  • Macau casino GGR soared in final days of CNY: brokeragesMacau casino GGR soared in final days of CNY: brokerages February 23, 2021
  • Pansy Ho sells off more stock in MGM Resorts for US$36mlnPansy Ho sells off more stock in MGM Resorts for US$36mln February 23, 2021
  • Macau removes last mainland cities from its quarantine listMacau removes last mainland cities from its quarantine list February 23, 2021
  • Macau VIP challenged by changes in China: Galaxy Ent bossMacau VIP challenged by changes in China: Galaxy Ent boss February 25, 2021
  • Galaxy Macau Phase 3 MICE to launch in stages says execGalaxy Macau Phase 3 MICE to launch in stages says exec February 24, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us