Sun City Group Holdings Inc., a Hong Kong-listed vehicle controlled by Macau casino junket investor Alvin Chow-Chukwah, has been granted the exclusive control of casino and food and beverage operations at Hoana, a new Vietnamese casino resort owned by the company.
The settlement will begin on the day casinos open for business and end on Dec. 31 of the year immediately following the opening date, the company said in a filing with the Hong Kong Stock Exchange on Monday.
Suncity Group Holdings has previously said it hopes casino resorts can launch Phase 1 in the fourth quarter of this year. Phase 1 of the plan includes casinos with a total of 140 game tables and more than 300 slot machines, restaurants, golf courses and more than 1,000 hotel rooms.
SunCity Group Holdings said in a filing on Monday, "The directors ... We believe the agreement will expand our customer base to Vietnam and at the same time leverage the board's expertise in the gaming market," he said.
Sun City Group Holdings bought its entire stake in Star Amiral Inc., which indirectly owns about 34% of the stake in Hoana Casino Resort, in August last year.
In exchange for running the game, Suncity Group Holdings will receive a base fee and incentive fee through its subsidiary Suncity Group Management and Consultancy (Hoi An) Ltd (SGMC Hoi An).
The incentive fee is an annual fee equal to 6% of the game's revenue before interest, taxation, depreciation, and amortization.
The basic management fee is a quarterly fee equivalent to 3% of total game revenue (GGR) and net VAT (VAT) for the fiscal quarter.
If Hoiana's average monthly VIP rolling turnover for the fiscal quarter is less than HK$6 billion (US$764.5 million), the SGMC department will receive 1% of the VAT net, the VIP GGR for the fiscal quarter. If such VIP turnover is greater than HK$6 billion but less than HK$10 billion, the SGMC department will receive 1.5% of the VAT net, the VIP GGR for the fiscal quarter.
If the casino's VIP turnover is HK$10 billion or more and HK$15 billion or less, the SGMC division will receive 2% of the VAT net, which is the VIP GGR for the fiscal quarter. If the VIP rolling is HK$15 billion or more, SGMC will receive 3% of the VAT net, which is the VIP GGR for the fiscal quarter.
The food and beverage facility management fee is the sum of the annual management fee equal to 3% of total food and beverage income for the fiscal year and the annual incentive fee equal to 6% of food and beverage EBITDA for the fiscal year. 토토사이트
Suncity Group Holdings is controlled by Mr Chow, who heads privately owned company Suncity Group, a major junket investor in Macau.
![Sun City Group Holdings Inc., a Hong Kong-listed vehicle controlled by Macau casino junket investor Alvin Chow-Chukwah, has been granted the exclusive control of casino and food and beverage operations at Hoana, a new Vietnamese casino resort owned by the company.
The settlement will begin on the day casinos open for business and end on Dec. 31 of the year immediately following the opening date, the company said in a filing with the Hong Kong Stock Exchange on Monday.
Suncity Group Holdings has previously said it hopes casino resorts can launch Phase 1 in the fourth quarter of this year. Phase 1 of the plan includes casinos with a total of 140 game tables and more than 300 slot machines, restaurants, golf courses and more than 1,000 hotel rooms.
SunCity Group Holdings said in a filing on Monday, "The directors ... We believe the agreement will expand our customer base to Vietnam and at the same time leverage the board's expertise in the gaming market," he said.
Sun City Group Holdings bought its entire stake in Star Amiral Inc., which indirectly owns about 34% of the stake in Hoana Casino Resort, in August last year.
In exchange for running the game, Suncity Group Holdings will receive a base fee and incentive fee through its subsidiary Suncity Group Management and Consultancy (Hoi An) Ltd (SGMC Hoi An).
The incentive fee is an annual fee equal to 6% of the game's revenue before interest, taxation, depreciation, and amortization.
The basic management fee is a quarterly fee equivalent to 3% of total game revenue (GGR) and net VAT (VAT) for the fiscal quarter.
If Hoiana's average monthly VIP rolling turnover for the fiscal quarter is less than HK$6 billion (US$764.5 million), the SGMC department will receive 1% of the VAT net, the VIP GGR for the fiscal quarter. If such VIP turnover is greater than HK$6 billion but less than HK$10 billion, the SGMC department will receive 1.5% of the VAT net, the VIP GGR for the fiscal quarter.
If the casino's VIP turnover is HK$10 billion or more and HK$15 billion or less, the SGMC division will receive 2% of the VAT net, which is the VIP GGR for the fiscal quarter. If the VIP rolling is HK$15 billion or more, SGMC will receive 3% of the VAT net, which is the VIP GGR for the fiscal quarter.
The food and beverage facility management fee is the sum of the annual management fee equal to 3% of total food and beverage income for the fiscal year and the annual incentive fee equal to 6% of food and beverage EBITDA for the fiscal year. [url=https://www.outlookindia.com/outlook-spotlight/2023년-11월-스포츠-토토사이트-순위-및-추천-사설토토-먹튀검증-top15-news-328577]토토사이트[/url]
Suncity Group Holdings is controlled by Mr Chow, who heads privately owned company Suncity Group, a major junket investor in Macau.](https://www.geogebra.org/resource/r3ybfhhu/KIaiCqvIN1a8n7uJ/material-r3ybfhhu.png)