Suncity Group changes the Hoiana IR opening schedule

The highly-anticipated grand opening of the operator’s Hoiana property is now scheduled for 2021 due to the Coronavirus crisis.

Vietnam.- Suncity has delayed the opening of its new Hoaina casino project until 2021 due to disruption caused by the global Coronavirus pandemic.

The news comes just days after the operator said outbreak of Covid-19 would not impact the opening of the property.

“I would like to take this opportunity to update my fellow shareholders that the highly-anticipated grand opening of Hoiana is now scheduled to happen in 2021, with an exclusive preview of Hoiana in summer 2020 as a consequence of the uncertainties brought by coronavirus,” Suncity Group Chairman, Alvin Chau, said.

“Suncity’s investment in Vietnam is intended to stay for a very long time. Now, there may be flight and visa disruptions to Vietnam; however, our long-term confidence towards the Vietnam market remain positive.”

The company revealed its decision after publishing its 2019 results which showed a widened loss of RMB1.48 billion on a 22.8% fall in revenue to RMB611.8 million – primarily in the property development segment.

Last week, a Suncity spokesperson told GGRAsia that the joint venture between Suncity, VinaCapital Group and VMS Investment Group would open on time.

 “Our market positioning in Hoiana is quite different compared to Macau,” the spokesperson said.

“We believe the alert will not affect our pre-soft opening provided we obtain the [local] licence on time,” he added.