Reports
SOUTH EAST ASIA - VIETNAM
Tere are seven licences casinos in Vietnam. Gaming is a reasonably strong pastime with many frequenting Cambodian casinos or via a black market. Te average gaming propensity for Vietnam locals is from six to 12 per cent according to reports.
developing its business in Vietnam, developing electronic gaming services and initially was looking at two projects in One Opera Hotel in Da Nang and a second in Le Meridian Hotel in Ho Chi Minh City.
Success Dragon also offers IT services to the pari-mutuel wagering sector and developed a racing system for greyhound and horse racing companies and has entered into an agreement with three racing enterprises to provide this system.
Success Dragon currently helps casino operators to manage their gaming machine operations and have plans for a series of slot hall projects in Vietnam involving management contracts to operate slots and electronic table games.
Te Da Nang project was to acquire a 45 per cent stake in the five star One Opera Hotel, which included a deal for the electronic gaming machine club in the premises. Te deal was for a 70 machine slot hall in the hotel which has 206 rooms and two restaurants, karaoke club and conference room. Te hotel will also host an
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OTB facility. Te deal was terminated in June 2016.
A second Success Dragon project in Ho Chi Minh City is for 118 machines in the Le Meridien Hotel which is a five star hotel with 343 rooms and 26 suites which opened in 2015. It also has restaurants, pool, fitness area and conference hall. Te deal is with Tien Phuoc and 990 Company Ltd, the owners, to set up and operate a slot hall for at least 10 years. Te group will receive a monthly management fee of four per cent of total gross revenues for its services.
Te company is hinging its plans on changes to the law to permit locals into slot halls and casinos to gamble plus the fact there is no significant casino in the city at present. If one opened this would impact on the slot hall plans.
Success Dragon saw a decline in their group revenues last year and a drop of HK$26.3m by year end March 2016 mainly down to a drop in performance of OBPM services business in Macau. Hence why the company is now diversifying and looking at other areas. Te
group recorded revenues of HK$153.7m
Meanwhile one of the main slot halls in Da Nang is Club99 which is situated in Furama Resort Da Nang which is one of the first five star beach resorts in the city. It offers around 100 state of the art machines and is luxurious and targets Korean clients and Vietnamese with foreign passports.
Czech-based Synot has also recently opened its second slot hall in Vietnam in the province of Nha Trang. Tis hall is equipped with VLTs and roulettes and follows Synot’s first operation opened at the end of 2015 in Nghe An. Te company has plans to open further locations in Vietnam in the near future.
Synot Sales Director Miroslav Valenta Jr said: “We are pleased that the expansion to the Asian market, for which we have strived for a long time, has become successful and we can continue on it. In the future we would like to focus on other countries in East Asia.”
In total there are seven licences casinos in
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