The Macau Suncity group intends to invest in a hotel and casino in Vietnam and last Tuesday CEO Alvin Chau Cheok Wa met with local authorities, according to Vietnamese newspaper VietnamNet.

Suncity wants the resort to be placed in Vietnam's largest island, Phu Quoc, in Rach Tram hamlet in Bai Thom commune. According to the newspaper, the first option of the Macau group was Bai Truong in Duong To commune and it is still the preferred location. However, this area has already been allocated to other investors and unless these investors withdraw their plans it is spoken for

Suncity's interest in Vietnam was welcomed by the Vice Chair of Kien Giang Province, Nguyen Thanh Nghi, who asked the junket operator to submit the official documents with investment plan for consideration. Nguyen Thanh Nghi also advised Suncity to study very carefully the provisions of the Government of Vietnam on foreign investment, especially investment in casinos.

Besides studying investing in Vietnam, the group is stepping into the Philippines market and will start operating in City of Dreams Manila and Solaire Resort. The move had already been announced by president of marketing strategy Choong Yoon Ming but now the group has launched an investment scheme.

Suncity has announced on its website that it is issuing 200 shares in Suncity Group Manila as part of a share subscription plan. Of the total 200 shares, 100 shares will be subscribed by the junket operator company. The remaining 100 shares can be subscribed at a cost of HK$5 million per share. The total 200 shares amount to HK$1 billion and the period for subscription expires on 31 March.

By João Santos Filipe

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