Moving into the driver’s seat
Macau junket promoter Suncity Group has sought a two-month extension of its deadline to buy a 34 percent stake in a casino in Hoi An, Vietnam.
According to Asia Gaming Brief, the deal had been scheduled to close on May 31, but the company said in a filing to the Hong Kong Stock Exchange that more time was required to fulfill certain conditions. Suncity is buying the stake in the Hoi An property in central Vietnam for HK$600 million from a company owned by its chairman Alvin Chau.
Suncity has been diversifying its business model to gain more operational control over the casinos where it operates.
The Hoi An property is expected to open in mid-2019 with 140 tables, half for the mass market and half for the VIP sector. Ho said they have projected table roll at the new resort to be $100 million per table, a conservative estimate given that its room at the Crown Casino in Danang is rolling $200 million per table, AGB reported.
