Vietnam: Hoiana casino resort opening pushed back

The opening of Suncity Group’s casino complex in Vietnam has been put back due to the Covid-19 pandemic.

Vietnam.- the opening of Suncity’s Hoiana hotel and resort has been pushed back to the second half of the year, analysts at UBS Securities Asia have said.

The analysts said the management of Suncity Group confirmed the schedule during a recent meeting.

The opening, which had been scheduled for H1, has been put back due to Covid-19 countermeasures in Vietnam, where borders remain closed.

Suncity offered a brief preview of the casino resort in June 2020. Phase two of the development has already begun.

UBS said that Suncity management believed its main drivers of growth would be its wide customer network of circa 190,000 members.

Hoiana casino project

Phase one of the Hoiana project has a capital expenditure budget of US$1bn and includes more than 1,000 hotel rooms, 140 gaming tables (two-thirds VIP, one-third mass-market) and 330 slots.

Suncity expects to target tourists from Southeast Asia and believes the development will “bring significant revenue and sustainable development prospects”.