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Mike Johnson May 16, 2020 2 min read
Suncity Granted Hoiana Casino License, Moved Forward with Wakayama IR
Hoiana, a $4 billion project of Hoi An South Development Co Ltd (HASD), has moved one step further after the company was granted a Casino Operating License last week, paving the way for phase 1 development of the property in Vietnam’s Quang Nam province to launch in early 2021. The license to operate a casino for the joint venture company between Suncity Group Holdings, Chow Tai Fook and VinaCapital Group is valid until December, 10, 2080.
The Casino Will be the Cherry on the Pie
The Hoiana integrated resort that was granted the right to operate a casino is located in Hoi An South, spread across 165 hectares of land, along 4km of coastline, featuring besides the casino an 18-hole golf course, as well as restaurants and hotels, with more than 1,000 rooms available for accommodation of its guests.
Suncity Group’s CEO Alvin Chau expressed his delight at the news that the company under his management was given the authorization to introduce gaming in the resort, on top of the combination of sun, sea and sand, to complement the offer of unique Vietnamese experience the property would provide for its guests.
“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.”Alvin Chau, CEO, Suncity Group Holdings
Moving Forward towards IR in Wakayama
Suncity Group Holdings that is mainly dealing with residential and commercial properties development, as well as providing hotel and integrated resort management, has been recently approved for the second round of the process for private sector partner selection for IR in Wakayama Prefecture, Japan.
The country is still deciding upon the location of the three available slots for casino integrated resorts, and Suncity, along with Clairvest have been approved for the next round of selection, after both companies responded to the request for information issued by Prefecture officials.
Suncity will have until end of August to submit its design project, with all necessary details to sway Wakayama officials in its favour. After a thorough assessment of both company’s projects, the Prefecture will have until mid-November to choose the private sector partner that will build the IR, provided the Japanese government grants Wakayama one of the three casino spots.