A “soft opening” in October this year is intended for the first phase of a multibillion-U.S.-dollar casino resort complex called “Hoiana” on Vietnam’s central coast. The investors hope that approximately two years after the venue’s launch they will be able to apply to open its casino to economically-qualified locals.
“We expect the first phase to open in October, and by then basically 90 percent of the first-phase content will be launched – such as the golf course, and hotels. But that should be a soft opening. We’ve aimed a grand and full opening of it before the Chinese New Year period in 2020,” said Mr. Lo Kai Bong (pictured), an Executive Director of the Company.
First-phase facilities are to include an 18-hole golf course; the Hoiana Residence condominium-hotel space carrying 270 units; and three hotels providing an aggregate of 800 rooms.
The multi-phase Hoiana scheme, located at Hoi An in Vietnam, is a venture by Hoi A South Development Ltd. Vietnamese asset manager VinaCapital Group, and a subsidiary of Hong Kong’s Chow Tai Fook Enterprises Ltd, have also been linked to the scheme. The listed Suncity Group Holdings had completed in August 2018 an acquisition that gave it a 34-percent stake in the Hoiana scheme.
“It is still not the right moment for us to apply for permission to offer gambling to locals, but we would definitely do so. however, currently only two licenses were issued that allow locals. Once the three-year test run under the scheme was completed, Suncity Group believed the market would be open for it and by then, we’ll for sure go apply and we will definitely be fitting to the local authority’s requirement,” Mr. Lo further stated
