Suncity Group on track for 1Q20 launch of Vietnam IR Hoiana

Inside Asian Gaming
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Hong Kong-listed Suncity Group Holdings Limited has confirmed it is on track to open its Vietnam integrated resort, Hoiana, within the first quarter of 2020.

According to Suncity’s Assistant Vice President of Marketing Communications, James Wong, final preparations for the launch of Hoiana’s first phase are progressing rapidly.

“We are looking at the first quarter, most likely late February or March,” Wong told Inside Asian Gaming. He also revealed that the IR’s golf course, Hoiana Shores, will be ready for a full opening before the end of this year following a three month “preview” period that began in September.

Hoiana, a joint venture between Suncity, VMS Investment Group and Vietnam’s VinaCapital Group, represents a significant step forward for the junket operator as it looks to move into the world of casino operations.

The company has also acquired a 29.68% stake, since reduced to 24.74% following the issue of new shares, in Summit Ascent Holdings – the owner and operator of Russian IR Tigre de Cristal – and recently acquired Philippines-listed Suntrust Home Developers Inc to sign a deal with Travellers International Hotel Group to build and operate the hotel and casino at Westside City Resorts World in Manila, Philippines, when it opens in 2022.

While Hoiana will launch its first phase early next year, completion of the entire resort is expected to take multiple years across a number of phases.

Explaining Suncity’s decision to move into casino operations, Wong told IAG, “We have been getting experience for the last 12 or 13 years in providing high level service, so we’ve got the skill, we’ve got the database, we’ve got all the software, which makes us ready to be an operator.

“Now we are testing the hardware. Obviously one of the main reasons is that when we have our own hardware we have better control to entertain our guests and provide a more unique experience.

“Under the leadership of Mr Alvin Chau, this is the strategy of Suncity Group.”