Hoi An South Development Co Ltd, the Vietnam-based joint venture of which Suncity Group holds a 34% stake, has secured a casino operating license for its Vietnamese integrated resort, Hoiana. The license is valid until 10 December 2080.
Hoiana, a joint venture between Suncity, Chow Tai Fook and VinaCapital Group, is located in Hoi An South in Vietnam’s Quang Nam province, with the US$1 billion Phase 1 development to span more than 165 hectares. It will include a casino, restaurants, an 18-hole golf course and more than 1000 hotel rooms.
“I am thrilled to be granted a Casino Operating License in Hoiana. We are now ready. The Casino Operating License will visualize 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,” Alvin Chau, CEO of Suncity Group, said.
“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,” Alvin Chau added.