Suncity acquires Central Vietnam IR
The company announced it has bought the 34% stake at the Hoiana IR development in Central Vietnam.
Vietnam.- Casino operator Suncity group has announced it has completed the acquisition of a 34% stake at the Hoiana integrated resort (IR) development in Central Vietnam. The deal includes the entire equity interest in and shareholders loan to Star Admiral Limited, a company involved in the project.
The deal has been pushed back from May 31 to Friday, August 31, after the company asked for more time to complete the conditions it was being requested by a commercial bank from Vietnam in order to approve a loan.
Suncity announced it had acquired Star Admiral completely on Tuesday, which has now become a subsidiary owned completely by the company.
Hoiana is expected to host entertainment and retail facilities, a casino with 140 tables and 1,000 slot machines, a golf course clubhouse, a mass market hotel with 313 hotel rooms, an all-suite hotel with 136 suites, 30 villa units for sale and timeshare rental, a hotel villa resort with 70 units, and a condo-hotel with 236 rooms for sale and timeshare rental and will open in mid-2019.
