Vietnam’s Hoiana casino resort posts US$248.1m loss up to January

Suncity Group has reported that its share of the losses was US$55.8m.

Vietnam.- The Hoiana casino resort located in the Vietnamese province of Quang Nam has recorded a cumulative loss of VND5.67tn (US$248.1m) up to January. According to the Vietnam Investment Review, Suncity Group Holdings, which holds about 34 per cent of Hoiana casino resort, has reported that its share of the losses was about HK$438m (US$55.8m).

Other investors in Hoiana include Vietnamese asset manager VinaCapital Group, which holds 32 per cent, and Hong Kong-based VMS Asset Management Ltda, which holds 34 per cent. The province of Quang Nam is a major tourist destination in Vietnam, whose tourism sector has been deeply affected by the Covid-19 pandemic. 

Quang Nam province hopes to attract 1.7 million foreign tourists and 4.2 million domestic tourists in 2022, according to the province’s tourism bureau. Authorities are planning several promotions in the coming months to attract tourists.

According to VN Express, in 2019, before the outbreak of the Covid-19 pandemic, Quang Nam received 7.6 million tourists, half of them foreigners. Hoiana is one of the locations currently allowed to host international guests.