Hong Kong-listed Suncity Group Holdings Ltd has announced that the $4 billion (about 32 billion patacas) casino project in Hoiana, Vietnam, was last week granted an operating license valid until December 2080.
The granting of the Certification for the Eligibility for Casino Business paves the way for the joint venture to kick off its first phase in early 2021.
In a Hong Kong Stock Exchange filing, Alvin Chau, chairman of Macau junket Suncity Group, who also leads the Hong Kong listed firm, said that he was “thrilled” that Hoiana was granted a casino license.
The Suncity brand is one of the investors in the Hoiana casino project.
“This is a very exciting time to witness my vision for Suncity sprout from ground zero into a truly integrated resort company – a true metamorphosis for Suncity,” Chau said, as cited in the press release.
The firm stressed that “the full opening of Hoiana is scheduled to happen in 2021 while an exclusive preview will be held in summer 2020”.
The 165-hectare Hoiana integrated resort is located in South Hoi An. It was previously announced that the integrated resort will only have 1,000 hotel rooms and 140 gaming tables.
Suncity group, which owns a one-third stake in the project was expected to bring its expertise in attracting high-roller Chinese gamblers to the project.
Hoiana was originally scheduled to open its first phase in the first quarter of 2019, but this was later delayed to early 2020 and then delayed again until 2021.
In February, Suncity said that Covid-19 will not impact the opening of the casino project, adding that it was confident that it would obtain the license to operate on time. lV
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