expected to open in 2021<\/a><\/em><\/strong>, despite the ongoing pandemic.<\/p>\n\n\n\nAndrew Lo, an executive director at Suncity has forecast that it could take \u201cfive to six years\u201d for the company to see payback and said the the Covid-19 pandemic would have a negative impact on Vietnam’s economy for the rest of this year.<\/p>\n\n\n\n
Speaking to the Chinese newspaper Ming Pao, Lo said the overall investment for the first phase of Hoiana had reached US$1 billion.<\/p>\n\n\n\n
In August 2018, Suncity Group Holdings reported the acquisition of a 34 per cent indirect stake in the Hoiana project for HKD600 million (US$77.4 million) at current exchange rates. <\/p>\n\n\n\n
According to Lo, Suncity would get 34 per cent of any profit generated by the Hoiana resort. <\/p>\n\n\n\n
The opening of the Hoiana is scheduled in 2021, but the venue offered a preview last month. It has 54 gaming tables and more than 250 slot machines. The resort has 50 rooms and the 19-hole golf course.<\/p>\n\n\n\n
The resorts expects to focus on clients from mainland China, Taiwan and South Korea.<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
According to an executive director, the company expects to wait five years or more to get payback for its investment in the Hoiana resort.<\/p>\n","protected":false},"author":2,"featured_media":8671,"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 anticipates a payback period of five years or more for its US$77.4 million investment in the Hoiana integrated resort in Vietnam, which represents a 34% indirect stake. The executive director, Andrew Lo, cited the US$1 billion first-phase investment and the ongoing COVID-19 pandemic as factors influencing the extended ROI timeline, despite the resort's scheduled 2021 opening and recent preview.","focusai_entities":"Suncity Group, Hoiana, Andrew Lo, Ming Pao","focusai_location":"Hong Kong, Vietnam, Mainland China, Taiwan, South Korea","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.85), marketing_crm (0.75), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Hoiana ROI Sensitivity?","query":"What specific GGR and NGR projections underpin the five-year payback forecast for Hoiana, particularly considering the ongoing impact of the COVID-19 pandemic on VIP and mass-market visitation from target regions?"},{"label":"Suncity Capital Allocation?","query":"How does Suncity Group's capital allocation strategy for Hoiana align with its broader portfolio diversification and risk management framework, especially given the extended payback period and current market uncertainties?"}],"footnotes":""},"categories":[160,28,16338],"tags":[12436,1619,94],"class_list":["post-8669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-casino-news","category-east-asia-news","tag-casinos","tag-hong-kong","tag-vietnam"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8669","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=8669"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8669\/revisions"}],"predecessor-version":[{"id":8690,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8669\/revisions\/8690"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/8671"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=8669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=8669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=8669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}