Suncity: the gambling business of the company in Vietnam and Cambodia is legal
Hong Kong company Suncity Group Holdings Ltd said that its casinos in Vietnam and Cambodia do not violate the law.
"Casinos and gambling will work in Vietnam and Cambodia, because they were licensed in both countries," - said in a Suncity statement.
"The working group will liaise with the relevant government agencies within their jurisdictions and involve Vietnamese and Cambodian legal advisers to ensure compliance with relevant laws and regulations," added the company.
Suncity Group Holdings is headed by Alvin Chau Chok Wah, to whom the investment company Suncity Group in Macao reports.
In a Friday statement, Suncity Group Holdings announced that it plans to attract a reputable accounting firm to develop an internal control system, policies and procedures to prevent serious crimes and money laundering.
The company announced this month the construction of a casino in Sihanoukville, Cambodia. The co-founders were a subsidiary of Suncity Group Management and Consultancy (Sihanoukville) Ltd and the owner of the casino-resort Golden Sun Sky Entertainment Ltd.
Sihanoukville is regarded as a potentially dangerous market due to the absence of well-regulated legislation and penal systems in the field of gambling.
In August, Suncity Group Holdings announced that it had acquired a 34% stake in casinos in the Vietnamese resort town of Hoi An. The transaction value was $ 76.4 million. It was offered to Star Admiral Ltd by a company registered in the British Virgin Islands, which controls casino rights. There are 140 gaming tables and about 1000 gaming machines on the gambling facility.
Earlier, Suncity offered consulting and management services for the development of casinos in Cambodia.
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