In a Friday press release, Hong Kong-listed Suncity Group Holdings Ltd, operated by the boss of the Macau junket group Suncity Group, said a company where it is an investor had earned a decades-long casino business licence for Hoiana casino resort in Vietnam.
The firm referred to the permit given by the Ministry of Finance and effective until 10 December 2080 as a “casino operating licence,” including possible extensions.
The Suncity brand is one of the investors in the Hoiana casino scheme and according to previous filings the listed company of the group is to run casino operations there. In press releases related to the project, Hoiana was identified as a multi-phase US$ 4-billion growth.
In the statement, Alvin Chau Cheok Wa, chairman of Suncity Group Holdings, was quoted saying that he was “thrilled” that Hoiana was “granted [a] casino operating licence.” He added it embodied a “true metamorphosis for Suncity,” moving from a Macau junket company to a on its own right casino resort operator.
The company repeated a March statement that “the full opening of Hoiana is scheduled to happen in 2021 while an exclusive preview will be held in summer 2020”.
According to previous management comment, Hoiana will not-at least initially-be part of the pilot scheme in Vietnam to allow economically qualified locals to play.
The announcement said Hoi An South Development Co Ltd – the listed company’s joint venture through an indirect equity interest of approximately 34 percent – had been granted “Certification for eligibility for casino business.”
The development entity is authorised to organise casino business activities in accordance with the time limit specified in a certificate of investment registration.
The document also gave some information on the resort’s hotel brands. Phase 1 would include: four hotels offering more than 1,000 rooms, suites and villas, including the all-suite Hoiana Hotel and Suites with 24-hour butler service; New World Hoiana Hotel and Residences, a luxury hotel serving short-term and long-term guests; KHOS Hoiana, described as a ‘brand new concept of hospitality’ including ‘social hubs’
There will also be a property in Rosewood Hoi, to open later, featuring villas.
The beachfront property in the province of Quang Nam, on the central coast of Vietnam, will also feature a beach club. On 2 March an 18-hole golf course opened.
The property is also said to offer “an array of beverages and retail brands” and “performances and entertainment activities for both gaming and non-gaming guests”.