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Cheng Family Takes Control of Vietnam Casino Resort

The Cheng family of Hong Kong assumed control of the Vietnam casino resort complex from the LET Group Holdings. According to the latest casino news headlines, the latter will oversee the daily management of the Hoiana Resort and Golf.

LET Group Holdings, which used to be Suncity Group Holdings Ltd, has been overseeing the resort’s operations. Alvin Chau Cheok Wa used to head the LET Group. However, the former Macau junket operator was sentenced to 18 years in jail.

Casino software experts say LET Group is no longer managing the Hoiana complex. Currently, Chow Tai Fook Enterprises Ltd supervises the operations of the casino resort.

Cheng Family Oversees Vietnam Casino Resort

Cheng Family Takes Control of Vietnam Casino ResortThe Cheng family has many investments in different casino developments, but its flagship investment entity is Chow Tai Fook Enterprises. The Chow Tai Fook Jewellery Group Ltd and New World Development Co Ltd were both created and are managed by the same family in Hong Kong. The latter is a Hong Kong-listed conglomerate operating in the real estate, infrastructure, and service sectors.

Chow Tai Fook, LET Group, and VinaCapital, an investment management business located in Vietnam, collaborated to build the Hoiana resort, which includes a casino (accessible solely to non-locals), a golf course, and several hotels.

There are now four places to stay at the Hoiana compound. Hoiana Hotel & Suites, Hoiana Residences, and New World Hoiana Hotel are all part of that chain. The New World Hoiana Beach Resort, the fourth, inaugurated its 330 rooms at the end of April.

The promoter told casino pay per head experts in May that the Rosewood Hoi An hotel will open “in 2024.” The Cheng family of Hong Kong runs the Rosewood Hotel Group, which includes the New World and Rosewood hotel chains.

Let’s Win Group, a gaming club, had a “grand opening ceremony” at Hoiana Resort & Golf in March. Let’s Win Group is an ITO that provides “high-end travel services” and “gaming operations” as part of its offerings.

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