Locals will not be allowed to visit a new gambling establishment in Vietnam

Locals will not be allowed to visit a new gambling establishment in Vietnam

Suncity Group Holdings - one of the sponsors of the new gambling establishment in Vietnam - is preparing to open a new gambling facility, scheduled for October this year.

Investors expect that approximately two years after the launch of the facility, they will be able to apply for opening a casino for local wealthy residents.

We expect the facility to be opened in October, by which time 90% of the facilities of the first phase should be launched. The company is counting on a "easy" opening,” - said a spokesperson for Suncity.

The final opening should take place before the arrival of the Chinese New Year in 2020.

In the first phase, it is planned to build the Hoiana Residence hotel with 270 rooms, three hotels (with a total of 800 rooms) and a golf course.

Hoi An South Development Ltd. deals with the design of a casino resort and a subsidiary of Hong Kong Chow Tai Fook Enterprises Ltd. Suncity Group Holdings owns a 34 percent stake in Hoiana.

The Vietnamese government lifted a ban on local residents visiting casino resorts in March 2017. However, there are a number of conditions under which Vietnamese people are allowed to visit gambling establishments. The authorities regulated the age and monthly income of the players, and also set an additional entrance fee.

Representatives of Suncity say that even despite the fact that now is not a good time to submit an application, which is necessary for providing services to local residents, the company will definitely seek such status in the future.

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