ceased operations<\/a><\/em><\/strong> back in early 2019. The Australian operator reported the news after the club\u2019s management decided to exclude its operations, which represented nearly 45% of the group\u2019s revenue in 2018.<\/p>\n\n\n\n\u201cThe company received notice from the general manager of Phoenix that table games are no longer included in its revised investment certificate and hence not permitted to be operated on the property, and that the casino will close for an indefinite period,\u201d Silver Heritage said in a filing to the Australian Securities Exchange.<\/p>\n\n\n\n
\u201cThe board is conducting a review of the legal basis on which the notice was issued, the company\u2019s rights and obligations under the entertainment services agreement between the company and the owner of Phoenix, and the impact\u2026 on the company,\u201d said Silver Heritage.<\/p>\n","protected":false},"excerpt":{"rendered":"
Suncity Group Holdings announced it will give the Vietnam casino Gold Yield Enterprises is developing in Hoiana a US$17 million loan.<\/p>\n","protected":false},"author":2,"featured_media":2109,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Suncity Group Holdings is providing a US$17 million loan to Gold Yield Enterprises (GYE) for the Hoiana integrated resort in Vietnam, with its 50% partner Alpha Era matching the investment, to ensure project funding and meet capital needs. This development occurs as a previous casino operation in Vietnam, Phoenix International Club by Silver Heritage Group, ceased operations due to regulatory changes impacting its investment certificate.","focusai_entities":"Suncity Group Holdings, Gold Yield Enterprises (GYE), Star Admiral, Alpha Era, Silver Heritage Group, Phoenix International Club","focusai_location":"Vietnam, Hoiana, Hanoi, Australia","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), compliance_legal (0.8), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Hoiana Project Viability","query":"What are the specific financial projections and anticipated GGR\/NGR contributions for the Hoiana integrated resort, considering the recent capital injection and the broader Vietnamese regulatory landscape?"},{"label":"Vietnam Regulatory Risk","query":"How does the incident with Silver Heritage Group's Phoenix International Club inform the risk assessment for other operators and investors regarding the stability and interpretation of gaming investment certificates in Vietnam?"}],"footnotes":""},"categories":[160,28,16333],"tags":[29,94],"class_list":["post-2108","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-casino-news","category-south-east-asia-news","tag-casino","tag-vietnam"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/2108","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=2108"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/2108\/revisions"}],"predecessor-version":[{"id":21267,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/2108\/revisions\/21267"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/2109"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=2108"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=2108"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=2108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}