After the imprisonment of the Suncity Group CEO Alvin Chau, the control of the Hoiana casino resort in Vietnam has been taken over from the former listed Chau’s company by Hong Kong’s billionaire Cheng family, as reported by Bloomberg. Resort Control Takeover: Alvin Chau ran the company LET Group Holding Ltd as a part of the casino giant Suncity Group. At the same time, the former company was involved in the operations of the Hoiana resort near the Vietnamese port […]

The post Hong Kong’s Billionaire Cheng Family Takes Over the Hoiana Casino Resort in Vietnam appeared first on World Casino News.

Following his arrest by police in mainland China over the weekend and Alvin Chau Cheok Wa (pictured) is reportedly set to stand down as Chief Executive Officer for Asian casino investor Suncity Group Holdings Limited. According to a report from Inside Asian Gaming, the 47-year-old entrepreneur was detained in Zhejiang Province on Saturday over allegations that his wholly-owned Suncity Group junket enterprise has been illegally providing Chinese citizens with the ability to gamble. The source detailed that this action was […]

The post Alvin Chau Cheok Wa to resign as boss of Suncity Group Holdings Limited appeared first on World Casino News.

Asian casino investor Suncity Group Holdings Limited has reportedly announced that it expects to release its 2020 financials next week featuring a respectable full-year profit attributable to shareholders of about $115.1 million. According to a report from GGRAsia, the Hong Kong-listed enterprise detailed that the positive result comes after it finished 2019 with a loss of slightly beyond $227.1 million owing to its investment in a multitude of gambling-friendly schemes spread across Asia. The source explained that these outlays had […]

The post Suncity Group Holdings Limited expecting to record full-year profit appeared first on World Casino News.

In Vietnam and a group of casino operators has reportedly petitioned the central government to allow the local citizenry to play within their establishments so as to make up for a recent coronavirus-related dearth in foreign business. According to a Monday report from the news domain at VnExpress.net, the move from the unnamed collection of casino firms comes as the southeast Asian nation is experiencing a massive slump in overseas visitation owing to its adherence to a strict set of […]

The post Vietnam casino operators seeking help in the time of coronavirus appeared first on World Casino News.

In Japan and the government for Wakayama Prefecture has reportedly announced that only two firms participated in the now-closed request for proposal (RFP) stage of its plan to secure one of the nation’s coming trio of integrated casino resort licenses. According to a report from Inside Asian Gaming, the small Honshu jurisdiction is hoping to take advantage of federal legislation passed in the summer of 2018 so as to be given permission to host one of three giant integrated casino […]

The post Two integrated casino resort operator candidates for Wakayama Prefecture appeared first on World Casino News.

The Macau business unit of Asian junket operator Suncity Group is reportedly still slowly recovering from last year’s coronavirus-related disruption with its overall rolling VIP chip volumes currently standing at around 20% of their pre-pandemic levels. According to a report from GGRAsia, this is the opinion of the Hong Kong-headquartered branch of financial services giant Goldman Sachs Group Incorporated following a December in which aggregated gross gaming revenues for the whole of Macau decreased by 65.8% year-on-year to approximately $978.75 […]

The post Suncity Group experiencing slow post-coronavirus recovery appeared first on World Casino News.

Asian junket operator Suncity Group Holdings Limited has reportedly announced that it intends to begin construction on the second phase of its $4 billion Hoiana integrated casino resort from sometime later this year. According to a report from GGRAsia, the Hong Kong-listed firm provisionally opened the first stage of the giant Vietnamese development in late-June complete with a five-star hotel and an 18-hole golf course alongside a small casino offering a collection of some 300 slots and 140 gaming tables. […]

The post Suncity Group Holdings Limited unveils Hoiana second phase schedule appeared first on World Casino News.

In central Vietnam and two of the firms behind the under-construction Hoiana integrated casino resort have reportedly agreed to provide the giant project with a loan worth approximately $60 million. According to separate reports from Inside Asian Gaming and GGRAsia, the coming $4 billion development located some 21 miles south of the port city of Da Nang held an exclusive preview event late last month and is planning to begin welcoming guests to its completed first phase sometime during the […]

The post More development cash for Vietnam’s coming Hoiana casino resort appeared first on World Casino News.

In central Vietnam and the firm behind the under-construction Hoiana integrated casino resort has reportedly announced that it has been granted a local casino operating license that is to remain valid until December of 2080. According to a report from Inside Asian Gaming, the revelation from Hoi An South Development Company Limited means that the coming $4 billion development located some 21 miles south of the port city of Da Nang will be able to bring a casino to its […]

The post Casino operating license for Vietnam’s coming Hoiana development appeared first on World Casino News.

The boss for prominent Asian junket operator, Suncity Group, has reportedly predicted that Macau could see an up to 20% decline year-on-year in fourth-quarter aggregated gross gaming revenues to around $7.79 billion. According to a report from GGRAsia, Alvin Chau Cheok Wa (pictured) made the forecast via a story published earlier today by the Chinese-language Hong Kong Economic Journal newspaper and additionally forecast that the enclave’s casino industry could record as much as a 15% comparable drop for the preceding […]

The post Gloomy prediction for future Macau aggregated gross gaming revenues appeared first on World Casino News.