Suncity Group has inked the deal to provide management and consultancy services to the owners of the $4 billion Hoiana Integrated Resort, which is due to open in October.
According to a Monday voluntary announcement, Suncity Group said that its wholly-owned subsidiary, Suncity Group Management and Consultancy (Hoi An) has signed the deal to manage the casino and F&B facilities of the Hoiana Integrated Resort, which is owned by Hoi An South Development Ltd (Project Co).
Under the agreement, Suncity will be in charge of establishing procedures and policies for gaming and other facilities, manage revenue from the operation of the casino, purchase or rent facilities required for the operation of the casino, performing all maintenance and repair, preparation of the budget and the hiring of personnel for the casino.
The term for the agreement commences on the first day of the casino opening until December 31 of the tenth year of operation, which is renewable for another 10 years.
The integrated resort is due to open in October. Suncity expects VIPs to the be main target visitors initially, with overhauls to infrastructure in the region expected to attract mass-market visitors in the future.
Developed in seven phases over 13 years and covering 985 hectares, the first phase currently under construction comprises 1,000 hotel rooms, a casino with 140 tables and over 300 slot machines, and an 18-hole golf course.
Phase 2, being finalized at the moment, is set to include 100 villas, two hotel brands boasting 2,000 rooms, a commercial village with retail stores and a theme park. A total of 4km of beach line will be part of the project, as well as more than a dozen restaurants.