SunCity’s plans to increase its operations in Macau and Vietnam would boost each other.
Vietnam.- The brokerage Union Gaming has released a document stating that “SunCity’s foray into an integrated resort business in Vietnam will prove useful should the company attempt to obtain a license in Macau come 2020-2022.”
“In regards to the license rebid process in Macau, SunCity’s Hoiana will put them in a better position to win a license (in the event a 7th license is issued) not only because SunCity will be a bonafide IR operator with local roots, but that licensing SunCity would also repatriate VIP dollars to Macau where it provides a benefit to the local community (i.e. tax receipts),” revealed Union Gaming’s statement.
Hoiana casino in the Quan Nam province of Vietnam is expected to boost the regional economy by offering a large number of job positions to residents. During its first phase, which is estimated in an initial investment of US$4 billion, the gaming venue would create 2,000 job positions.
The Hoi An South Development Co Ltd’s expected casino in Vietnam’s central coast is a joint project also developed by renowned local companies: SunCity Group, Vietnam-based asset management firm VinaCapital Group, and a subsidiary of Hong Kong-based Chow Tai Fook Enterprises Ltd.
In a release Amy Do – the project firm’s head of business development – said the project would “set a new benchmark for high-end tourism in Vietnam, bringing economic prosperity and opportunity to Quang Nam province.”