Hong Kong’s Cheng family to manage Hoiana Resort & Golf

The family has taken over management of the resort in Vietnam following LET Group’s exit.

Vietnam.- The Cheng family of Hong Kong has taken over day-to-day management at the Hoiana Resort & Golf complex. The move comes as LET Group Holdings Ltd, previously responsible for the resort’s operations, has reportedly stepped back from its managerial role. 

The transition was reported by Bloomberg, citing sources familiar with the matter. LET Group Holdings was previously known as Suncity Group Holdings Limited. Its former CEO, Alvin Chau Cheok Wa, was sentenced to 18 years in prison in January.

The Cheng family investment firm Chow Tai Fook Enterprises has a notable presence in the gaming industry with stakes in other casino projects. The family’s influence also extends to entities such as Hong Kong-based Chow Tai Fook Jewellery Group and New World Development Co, a Hong Kong-listed conglomerate focused on property development, infrastructure, and services.

The Hoiana Resort & Golf complex is a joint venture involving Chow Tai Fook Enterprises, LET Group Holdings and VinaCapital, a Vietnam-based investment management firm. It has a foreigner-only casino, a meticulously designed golf course and four accommodations options: Hoiana Hotel & Suites, Hoiana Residences, New World Hoiana Hotel and the recent addition of New World Hoiana Beach Resort, which opened in late April with 330 rooms.

In March, Let’s Win Group held an opening ceremony for a gaming club at Hoiana Resort & Golf.