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Macau’s SunCity to join Chow Tai Fook in Vietnam casino project


Macau junket operator SunCity Group will join Hong Kong’s Chow Tai Fook Enterprises in investing in a long-delayed $4 billion casino project in Vietnam, according to Vietnam Investment Review.

The investors will take the place of Malaysia’s Genting, which pulled out of the project in 2012 in Quang Nam province. The two investors will partner with Vietnam’s VinaCapital.

The newspaper cited a source at the Chu Lai Economic Zone Authority as saying the the provincial committee would issue an amended investment certificate for the project. No details were given of Chow Tai Fook, or SunCity’s involvement. Chow Tai Fook, which is also planning to invest $2.6bn in a casino project in Incheon in South Korea, expressed an interest in the Vietnam project in December.

Earlier this month, SunCity denied separate media reports saying it was interested in developing a casino on Phu Quoc, Vietnam’s largest island.

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