According to research, the casino project in Vietnam will eventually generate EBITDA of US$470 million per year.<\/p>\n\n\n\n\n\n\n\n
Hong Kong.- Suncity Group Holdings’ Hoiana casino project in Vietnam will not \u201csignificantly\u201d contribute to company profits \u201cuntil financial year 2022\u201d. So says former banking analyst Michael Ting.<\/p>\n\n\n\n
A preview of Hoiana was first offered on June 28. Phase one has a capital expenditure budget of US$1 billion, over 1,000 hotel rooms, 140 gaming tables (two-thirds VIP, one-third mass-market) and 330 slots.<\/p>\n\n\n\n
Ting said Hoiana offered a better EBITDA margin on gaming than Macau, where Suncity has its core operations, and that the difference in tax outlay could help Hoiana\u2019s prospects.<\/p>\n\n\n\n
However he mentined that the \u201ccurrent macro[economic] uncertainty involving Covid-19, along with only an expected gradual resumption of international travel” would mean it could be slow to get off the ground.<\/p>\n\n\n\n
Based on GGR of around US$1.4 million per table per month at Crowne Plaza, in Da Nang, Ting said the 140 tables at Hoiana phase one “can generate roughly US$196 million of GGR per month, or US$2.35 billion per year”.<\/p>\n\n\n\n
Mr Ting stated: \u201cApplying a 20-per cent EBITDA margin \u2013 double that of Macau \u2013 we estimate that Hoiana phase one at full ramp, can achieve EBITDA of US$470 million per year, which is 70 per cent of NagaCorp Ltd\u2019s financial year 2019 EBITDA”.<\/p>\n","protected":false},"excerpt":{"rendered":"
According to research, the casino project in Vietnam will eventually generate EBITDA of US$470 million per year.<\/p>\n","protected":false},"author":2,"featured_media":9911,"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' Hoiana casino project in Vietnam is projected to generate US$470 million in annual EBITDA at full ramp, significantly outperforming Macau's gaming EBITDA margins due to favorable tax structures. However, its profit contribution is not expected until financial year 2022, with initial ramp-up potentially hindered by macroeconomic uncertainties and slow international travel resumption due to Covid-19. The phase one development includes 140 gaming tables and 330 slots, targeting US$2.35 billion in annual GGR.","focusai_entities":"Suncity Group Holdings, Michael Ting, NagaCorp Ltd.","focusai_location":"Vietnam, Hong Kong, Macau, Da Nang","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), supplier_vendor (0.75), investor_analyst (1.0), journalist_researcher (0.85)","focusai_suggestions":[{"label":"Tax Advantage Analysis","query":"What specific regulatory or fiscal frameworks in Vietnam provide Hoiana with a projected EBITDA margin double that of Macau, and how sustainable are these advantages within the broader governance frameworks?"},{"label":"Ramp-up Mitigation Strategy","query":"Given the projected delay in significant profit contribution until FY2022 due to COVID-19 and travel restrictions, what specific operational and marketing strategies is Suncity Group Holdings implementing to accelerate Hoiana's ramp-up and achieve its US$470 million EBITDA target?"}],"footnotes":""},"categories":[160,16338,163],"tags":[12436,1619,23702,94],"class_list":["post-9909","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-east-asia-news","category-finance-news","tag-casinos","tag-hong-kong","tag-suncity-group","tag-vietnam"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9909","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=9909"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9909\/revisions"}],"predecessor-version":[{"id":9913,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9909\/revisions\/9913"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/9911"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=9909"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=9909"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=9909"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}