Hoaina casino project<\/em><\/strong><\/a> until 2021 due to disruption caused by the global Coronavirus pandemic.<\/p>\n\n\n\nThe news comes just days after the operator said outbreak of Covid-19 would not impact the opening of the property. <\/p>\n\n\n\n
“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.<\/p>\n\n\n\n
“Suncity\u2019s 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.”<\/p>\n\n\n\n
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 \u2013 primarily in the property development segment.<\/p>\n\n\n\n
Last week, a Suncity<\/em><\/strong> spokesperson told GGRAsia that the joint venture between Suncity, VinaCapital Group and VMS Investment Group would open on time.<\/p>\n\n\n\n “Our market positioning in Hoiana is quite different compared to Macau,” the spokesperson said.<\/p>\n\n\n\n
“We believe the alert will not affect our pre-soft opening provided we obtain the [local] licence on time,” he added.
<\/p>\n","protected":false},"excerpt":{"rendered":"
The highly-anticipated grand opening of the operator’s Hoiana property is now scheduled for 2021 due to the Coronavirus crisis.<\/p>\n","protected":false},"author":2,"featured_media":0,"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 has postponed the grand opening of its Hoiana integrated resort in Vietnam to 2021, citing uncertainties and disruptions caused by the global Coronavirus pandemic, despite earlier assurances of no impact. This delay follows the company's announcement of a widened loss and decreased revenue in its 2019 financial results, primarily from its property development segment.","focusai_entities":"Suncity, Suncity Group, Alvin Chau, VinaCapital Group, VMS Investment Group, GGRAsia","focusai_location":"Vietnam, Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.85), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Hoiana Project Financial Impact","query":"What is the revised capital expenditure schedule and projected impact on Suncity Group's near-term GGR and NGR forecasts given the Hoiana integrated resort's delayed opening to 2021?"},{"label":"Regulatory Compliance Implications","query":"How will the Hoiana project's delayed opening affect the timeline for securing full operational licensing from Vietnamese authorities, and what are the potential implications for the joint venture's governance frameworks?"}],"footnotes":""},"categories":[160,28,161,16333],"tags":[29,7299,8232,473,94],"class_list":["post-4977","post","type-post","status-publish","format-standard","hentry","category-asia-pacific","category-casino-news","category-daily-news","category-south-east-asia-news","tag-casino","tag-coronavirus","tag-hoiana","tag-ir","tag-vietnam"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/4977","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=4977"}],"version-history":[{"count":6,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/4977\/revisions"}],"predecessor-version":[{"id":777009568,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/4977\/revisions\/777009568"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=4977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=4977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=4977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}