{"id":87092,"date":"2018-08-31T15:00:05","date_gmt":"2018-08-31T22:00:05","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=87092"},"modified":"2018-08-31T15:02:41","modified_gmt":"2018-08-31T22:02:41","slug":"vietnam-casino-hoiana-done-deal-as-suncity-acquires-stake","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/vietnam-casino-hoiana-done-deal-as-suncity-acquires-stake\/","title":{"rendered":"Vietnam Casino Hoiana Done Deal as Suncity Acquires Stake in Massive Seven-Phase Project"},"content":{"rendered":"

A Vietnam casino mega-project — whose first phase will be called Hoiana —\u00a0 is looking solid after numerous delays. Suncity Group Holdings Ltd. announced this week that it’s finally closed a deal which will give it a 34 percent stake in the casino master plan.<\/p>\n

\"Vietnam
Alvin Chau\u2019s Suncity Group has completed the purchase of a 34 percent stake in a massive new Vietnamese Casino project. (Source: The Business Times)<\/figcaption><\/figure>\n

Suncity is one of the highest-profile junket operators in Macau, and filed the purchase with the Hong Kong Stock Exchange this week, a company-issued statement saying that, \u201cupon completion, the target has become a wholly owned subsidiary of the company.\u201d<\/strong><\/p>\n

That target is Star Admiral Ltd., which was purchased outright by the Suncity Group, putting both companies under the control of Macau investor and Suncity Chairman Alvin Chau.<\/p>\n

It brings to an end a deal that was more than a year in the making, and beset by continual delays in recent months. The purchase agreement for 34 percent stake in the project was first announced in July of 2017 for a price of $76.8 million.<\/p>\n

But due to financing delays, the deal was first pushed back to this March, then once more to July, before it finally closed this week. Suncity will now partner with real estate firm VinaCapital and Hong Kong investment group VMS to bring the project to life.<\/span><\/strong><\/p>\n

Once complete, the venture will deliver a larger-than-life casino development to the Hoi An region in central Vietnam.<\/p>\n

Country\u2019s Biggest Casino<\/strong><\/h2>\n

Vietnam has seen something of a casino boom in recent years, but this one will tower over them all.<\/p>\n

Construction on the first of seven phases is expected to get underway in the middle of 2019. Phase 1 is officially known as Hoiana and will include 1,000 slot machines, 140 gaming tables, along with a hotel, condominiums, and an attached golf course.<\/p>\n

\n

Phase 2 was scheduled to be completed in 2023, but will now be pushed back by a year. The $4 billion project<\/a> is expected to expand over the course of the next 15 to 20 years. Once all seven phases are completed, there will also be villa residences, retail shopping, a lagoon,and multiple water parks.<\/span><\/strong><\/p>\n<\/div>\n

Hoiana will be built on a two-mile stretch of coastline in central Vietnam between the city of Da Nang and the sleepy tourist hot spot of Hoi An. It will sprawl over an area 2,470 acres in size.<\/p>\n

Not Done Yet<\/strong><\/h2>\n

Officials in Vietnam are betting that an expanded casino industry will help attract the highly coveted Chinese tourists who are already flocking to new casinos popping up all over Asia.<\/p>\n

In addition to the mammoth Hoiana project, two other casinos are currently in development in Vietnam. One is in Quang Ninh in the north of the country, while another is being built on Phu Quoc Island in the southern region.<\/p>\n

Currently, Vietnamese locals are technically not allowed to gamble in casinos. However, in January, the government announced<\/a> it would permit these three casinos to welcome locals as part of a pilot project.<\/p>\n","protected":false},"excerpt":{"rendered":"

A Vietnam casino mega-project — whose first phase will be called Hoiana —\u00a0 is looking solid after numerous delays. Suncity Group Holdings Ltd. announced this week that it’s finally closed a deal which will give it a 34 percent stake in the casino master plan. Suncity is one of the highest-profile junket operators in Macau, […]<\/p>\n","protected":false},"author":37,"featured_media":87093,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,18],"tags":[],"acf":[],"yoast_head":"\nVietnam Casino Hoiana Done Deal as Suncity Acquires Stake<\/title>\n<meta name=\"description\" content=\"The Vietnam casino landscape continues to expand as Macau junket operator Suncity Group has officially purchased a 34 percent stake in what will be the country\u2019s biggest casino, with Phase One known as Hoiana.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/vietnam-casino-hoiana-done-deal-as-suncity-acquires-stake\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vietnam Casino Hoiana Done Deal as Suncity Acquires Stake\" \/>\n<meta property=\"og:description\" content=\"The Vietnam casino landscape continues to expand as Macau junket operator Suncity Group has officially purchased a 34 percent stake in what will be the country\u2019s biggest casino, with Phase One known as Hoiana.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/vietnam-casino-hoiana-done-deal-as-suncity-acquires-stake\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2018-08-31T22:00:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-08-31T22:02:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/08\/BP_Alvin-Chau_231117_90_0.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1536\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Cort Smith\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Cort Smith\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/vietnam-casino-hoiana-done-deal-as-suncity-acquires-stake\/\",\"url\":\"https:\/\/www.casino.org\/news\/vietnam-casino-hoiana-done-deal-as-suncity-acquires-stake\/\",\"name\":\"Vietnam Casino Hoiana Done Deal as Suncity Acquires Stake\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/vietnam-casino-hoiana-done-deal-as-suncity-acquires-stake\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/vietnam-casino-hoiana-done-deal-as-suncity-acquires-stake\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/08\/BP_Alvin-Chau_231117_90_0.jpg\",\"datePublished\":\"2018-08-31T22:00:05+00:00\",\"dateModified\":\"2018-08-31T22:02:41+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/20db7dec4c6b349b19992217f9a7df7d\"},\"description\":\"The Vietnam casino landscape continues to expand as Macau junket operator Suncity Group has officially purchased a 34 percent stake in what will be the country\u2019s biggest casino, with Phase One known as Hoiana.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/vietnam-casino-hoiana-done-deal-as-suncity-acquires-stake\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/vietnam-casino-hoiana-done-deal-as-suncity-acquires-stake\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/vietnam-casino-hoiana-done-deal-as-suncity-acquires-stake\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/08\/BP_Alvin-Chau_231117_90_0.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/08\/BP_Alvin-Chau_231117_90_0.jpg\",\"width\":1536,\"height\":1024,\"caption\":\"Alvin Chau\u2019s Suncity Group has completed the purchase of a 34 percent stake in a massive new Vietnamese Casino project. (Source: The Business Times)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/vietnam-casino-hoiana-done-deal-as-suncity-acquires-stake\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Commercial Gaming\",\"item\":\"https:\/\/www.casino.org\/news\/commercial-gaming\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Live Casinos\",\"item\":\"https:\/\/www.casino.org\/news\/commercial-gaming\/live-casinos\/\"},{\"@type\":\"ListItem\",\"position\":4,\"name\":\"Vietnam Casino Hoiana Done Deal as Suncity Acquires Stake in Massive Seven-Phase Project\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/20db7dec4c6b349b19992217f9a7df7d\",\"name\":\"Cort Smith\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/cort-smith-96x96.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/cort-smith-96x96.jpg\",\"caption\":\"Cort Smith\"},\"description\":\"Reporter \u2012 Sports and Sports Betting, Gaming Legislation, Global Casino Business, Canadian Gaming Industry Cort Smith joined Casino.org as a news writer in 2018. His media background began with the Global News Network in Canada, where he served as producer, reporter, and anchor between 2000 and 2016, working on national broadcasts. An avid fantasy football player, his work has also been featured on fantasy analytic sites like RotoViz.com and numberFire.com. Cort has been writing sports betting analysis for The Action Network since the 2018 NFL season kicked off as well. A passionate world traveler, he has spent extensive time in Asia, Australia, and the EU. He enjoys poker and is a hardcore Edmonton Oilers and Denver Broncos fan. Cort lives in British Columbia, where he can be found fly fishing when he\u2019s not writing and following sports.\",\"url\":\"https:\/\/www.casino.org\/news\/author\/cort-smith\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Vietnam Casino Hoiana Done Deal as Suncity Acquires Stake","description":"The Vietnam casino landscape continues to expand as Macau junket operator Suncity Group has officially purchased a 34 percent stake in what will be the country\u2019s biggest casino, with Phase One known as Hoiana.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/vietnam-casino-hoiana-done-deal-as-suncity-acquires-stake\/","og_locale":"en_US","og_type":"article","og_title":"Vietnam Casino Hoiana Done Deal as Suncity Acquires Stake","og_description":"The Vietnam casino landscape continues to expand as Macau junket operator Suncity Group has officially purchased a 34 percent stake in what will be the country\u2019s biggest casino, with Phase One known as Hoiana.","og_url":"https:\/\/www.casino.org\/news\/vietnam-casino-hoiana-done-deal-as-suncity-acquires-stake\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2018-08-31T22:00:05+00:00","article_modified_time":"2018-08-31T22:02:41+00:00","og_image":[{"width":1536,"height":1024,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/08\/BP_Alvin-Chau_231117_90_0.jpg","type":"image\/jpeg"}],"author":"Cort Smith","twitter_card":"summary_large_image","twitter_creator":"@Casino_Org","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Cort Smith","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/vietnam-casino-hoiana-done-deal-as-suncity-acquires-stake\/","url":"https:\/\/www.casino.org\/news\/vietnam-casino-hoiana-done-deal-as-suncity-acquires-stake\/","name":"Vietnam Casino Hoiana Done Deal as Suncity Acquires Stake","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/vietnam-casino-hoiana-done-deal-as-suncity-acquires-stake\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/vietnam-casino-hoiana-done-deal-as-suncity-acquires-stake\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/08\/BP_Alvin-Chau_231117_90_0.jpg","datePublished":"2018-08-31T22:00:05+00:00","dateModified":"2018-08-31T22:02:41+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/20db7dec4c6b349b19992217f9a7df7d"},"description":"The Vietnam casino landscape continues to expand as Macau junket operator Suncity Group has officially purchased a 34 percent stake in what will be the country\u2019s biggest casino, with Phase One known as Hoiana.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/vietnam-casino-hoiana-done-deal-as-suncity-acquires-stake\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/vietnam-casino-hoiana-done-deal-as-suncity-acquires-stake\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/vietnam-casino-hoiana-done-deal-as-suncity-acquires-stake\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/08\/BP_Alvin-Chau_231117_90_0.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/08\/BP_Alvin-Chau_231117_90_0.jpg","width":1536,"height":1024,"caption":"Alvin Chau\u2019s Suncity Group has completed the purchase of a 34 percent stake in a massive new Vietnamese Casino project. (Source: The Business Times)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/vietnam-casino-hoiana-done-deal-as-suncity-acquires-stake\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Commercial Gaming","item":"https:\/\/www.casino.org\/news\/commercial-gaming\/"},{"@type":"ListItem","position":3,"name":"Live Casinos","item":"https:\/\/www.casino.org\/news\/commercial-gaming\/live-casinos\/"},{"@type":"ListItem","position":4,"name":"Vietnam Casino Hoiana Done Deal as Suncity Acquires Stake in Massive Seven-Phase Project"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/20db7dec4c6b349b19992217f9a7df7d","name":"Cort Smith","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/cort-smith-96x96.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/cort-smith-96x96.jpg","caption":"Cort Smith"},"description":"Reporter \u2012 Sports and Sports Betting, Gaming Legislation, Global Casino Business, Canadian Gaming Industry Cort Smith joined Casino.org as a news writer in 2018. His media background began with the Global News Network in Canada, where he served as producer, reporter, and anchor between 2000 and 2016, working on national broadcasts. An avid fantasy football player, his work has also been featured on fantasy analytic sites like RotoViz.com and numberFire.com. Cort has been writing sports betting analysis for The Action Network since the 2018 NFL season kicked off as well. A passionate world traveler, he has spent extensive time in Asia, Australia, and the EU. He enjoys poker and is a hardcore Edmonton Oilers and Denver Broncos fan. Cort lives in British Columbia, where he can be found fly fishing when he\u2019s not writing and following sports.","url":"https:\/\/www.casino.org\/news\/author\/cort-smith\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/87092"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/37"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=87092"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/87092\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/87093"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=87092"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=87092"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=87092"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}