• 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

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
  • Jeju still studying online gaming for its casinos: govt
    Jeju still studying online gaming for...

    Jun 24, 2022  

  • Alvin Chau, Suncity trial set for September 2: court
    Alvin Chau, Suncity trial set for...

    Jun 20, 2022  

More news
  • Only 2 Macau satellites closed as concessions extended
    Only 2 Macau satellites closed as...

    Jun 29, 2022  

  • LVS full recovery may take until 2024: Moody’s
    LVS full recovery may take until 2024:...

    Jun 29, 2022  


Latest News

Only 2 Macau satellites closed as concessions extended

Only 2 Macau satellites closed as concessions extended

Jun 29, 2022  

Only two of Macau’s 18 satellite casinos – the Rio Casino and the President Casino – have closed amid changes to the city’s regulatory system for such properties, and against...
Read More
LVS full recovery may take until 2024: Moody’s

LVS full recovery may take until 2024: Moody’s

Jun 29, 2022  

Satellite casino ops still to Dec 31 at Casa Real, Grandview

Satellite casino ops still to Dec 31 at Casa Real,

Jun 29, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

"There is still no clarity about when border easing for Macau will occur. In the end these changes are needed to see a rebound for Macau business"

Vitaly Umansky, Louis Li and Shirley Yang

Analysts at brokerage Sanford C. Bernstein



Most Popular

  • Macau casino Covid tests from Fri, ops pay for staff testsMacau casino Covid tests from Fri, ops pay for staff tests June 28, 2022
  • China quarantine easing good signal for Macau: analystsChina quarantine easing good signal for Macau: analysts June 29, 2022
  • SJM to make 2nd of pledged staff subsidy payments for 2022SJM to make 2nd of pledged staff subsidy payments for 2022 June 27, 2022
  • Moody’s confirms SJM Holdings’ ratings, negative outlookMoody’s confirms SJM Holdings’ ratings, negative… June 27, 2022
  • MGM China gets deal for use of MGM brands renewedMGM China gets deal for use of MGM brands renewed June 27, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us