Suncity Group certified to operate US$4-billion Hoiana IR Project in Vietnam

Posted: May 18, 2020 13:10 Category: Asia , Posted by Maria Debrincat

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.  

Alvin Chau, CEO of Suncity Group Holdings is thrilled to be granted a Casino Operating License in Hoiana.

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 SuncityHoiana 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.

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