Suncity Group venture in Vietnam granted license for Hoi An IR project

Hoi An South Development Co Ltd (HASD) – the Vietnam-based joint venture of which Suncity Group holds a 34 per cent stake – has been granted a casino operating license for its integrated resort, Hoiana, Inside Asian Gaming advanced.

Accoridng to the gaming publication, Hoi An South Development Co Ltd (HASD) was issued a Certification for the Eligibility for Casino Business valid until 10 December 2080 this week, which will allow the US$4 billion integrated resort project to initiate its first phase in early 2021.

The joint venture also includes Chow Tai Fook and VinaCapital Group, with the property to be located in Hoi An South.

Phase 1 of the Hoiana integrated resort in Vietnam will include more than 1,000 hotel rooms, a casino with 140 gaming tables and over 300 slot machines, as well as a golf course, and cost about US$1 billion.

Just this March, Hong Kong-listed Suncity Group provided through its subsidiary Star Admiral a US$17 million (MOP136.1 million) loan to Gold Yield Enterprises Limited (GYE), for investment and development in the project in Hoi An, Vietnam.