The company was granted a Casino Operating License last week, paving the way for phase 1 development of the property
Suncity Group Holdings Ltd, managed by the boss of Macau junket group Suncity, on Friday announced that Hoi An South Development Co Ltd (HASD), the Vietnam-based joint venture, had received its ‘casino operating license’ for the Hoiana integrated resort in Vietnam.
The ‘casino operating license’ permit was issued by the Ministry of Finance and has given a lengthy validity period until December 10, 2080 – subjects to its capacity for expansions in the future.
Suncity Group Holdings CEO, Alvin Chau Cheok Wa, said “I am thrilled to be granted a Casino Operating License in Hoiana,”. He added, “We are now ready. The Casino Operating License will visualise my re-imagination of Suncity. Hoiana is now finally allowed to open its doors to offer guests an authentic Vietnamese experience embellished with sun, sea and sand.”
The US$4-billion Hoiana joint venture between Suncity Groups that owns 34% of the stake, Chow Tai Fook and Vina Capital Group, situates in Vietnam’s Quang Nam Province - Hoi An South.
Alvin Chau Cheok Wa also expressed, “This is a very exciting time to witness my vision for Suncity to sprout from ground zero into a truly integrated resort company – a true metamorphosis for Suncity. Stay tuned for Hoiana’s exclusive preview in the summer and the Grand Opening in 2021.”
Phase 1 of the Hoiana IR casino project is set to cost US$1 billion to be placed in 165-hectare land along a 4 km coastline that encompasses a casino that will feature 140 gaming tables and 300 slot machines, an 18-hole golf course which opened on March 2 and four hotels offering over 1,000 rooms, suites and villas. The development will offer a lineup of food and beverage and retail brands as well as recreational activities suited for both gaming and non-gaming guests.
Suncity Group Holdings has also obtained a shareholder’s approval for the development of a casino resort project called “Westside City Resorts” in the Philippine capital, Manila. Read more about it here.