Integrated resort venture for Suncity
Suncity Group Holdings has released a statement indicating that construction of the Hoiana integrated resort is moving forward nicely and added that everything is on schedule for the venue to open in the first quarter of 2020.
Calvin Ayre reports the company’s assistant vice president of marketing communications James Wong was optimistic in talking to Inside Asian Gaming, stating that the final preparations for the completion of the first phase are moving along quickly.
Hoiana is being built through an agreement between Suncity, VinaCapital Group out of Vietnam and VMS Investment Group.
Suncity has been primarily a junket operator, but has been transitioning into direct casino operations in recent times and this project is one of the primary examples of that transformation.
Mr Wong told IAG that even before the completion of the first phase of the integrated resort, its Hoiana Shores golf course will be open.
It is expected to see customers tee off before the end of the year, as a three-month soft launch that began in September come to an end.
As for the rest of phase one, he said, “We are looking at the first quarter, most likely late February or March.”
Additional phases and completion of the entire venue will take several more years.
Suncity has been working toward making an entrance into gaming operations for a couple of years.
Mr Wong explained to IAG: “We have been getting experience for the last 12 or 13 years in providing high level service, so we’ve got the skill, we’ve got the database, we’ve got all the software, which makes us ready to be an operator.”
“Now we are testing the hardware. Obviously one of the main reasons is that when we have our own hardcore, we have better control to entertain our guests and provide a more unique experience,” he said.
Hoiana isn’t the only casino operation the company is currently moving forward.
It is also involved in the Tigre de Cristal integrated resort in Russia, thanks to the purchase of shares in the venue’s owner and operator, Summit Ascent Holdings.
Initially, Suncity purchased a 29.68 per cent stake, but that amount was reduced to 24.74 per cent when Summit issued new shares to investors.
Suncity also has another casino venue coming, this one in the Philippines.
It just acquired a Philippines-listed company, Suntrust Home Developers, and signed an agreement with Travellers International Hotel Group that paves the way for the company to develop and operate a hotel and casino at Travellers’ Westside City Resorts world in Manila.
That property is expected to open in 2022.
