>> Behind this quiet beach in Vietnam lies what will soon be one of the biggest casinos in Southeast Asia. When it's finished, the Hoiana Resort will cover nearly ten square kilometers of golf courses, shops and resorts just outside the Holiday City of Da Nang. The area is four times the size of the entire Cotai Strip in the Asian gambling mecca of Macau, which is helping to fund some of the $4 billion for this huge project.
Not from Macau's casinos but from the junkets who keep the high rollers flowing into the city. US regulators have alleged many of the junkets hold ties to organized crime and illicit flows of money. But now the junkets are going into the casino business themselves with Hoiana overseas in Vietnam.
As Reuters' Farrah Master reports, the junkets' gamble there could land them success back home.>> So it's a really key time in Macau. In 2020 the first casino license is set to expire and the Macau government is going to decide whether to allow new casino licenses. If Hoiana is successful it would enable some city to potentially have a better chance at applying for a license in Macau.
>> One of Macau's top junkets, the Sun City Group are one of three major investors in the Hoiana project. Executive Director, Andrew Lo, says the company brings in around 20% of Macau's gambling revenue.>> Macau is like six or seven times bigger than Vegas, right? So our company is generating bigger than Vegas.
>> The company has grown rapidly from operating a single table in one Macau casino in 2007, to a exploring conglomerate with nearly 4,000 employees. Hoiana is expected to cater to the rising number of Chinese tourists already flocking to Da Nang's beaches. And Sun City confirmed that they're interested in the chance of a Macau lessons in 2020.
Company executives are optimistic about Hoiana's future saying they have backing from the Vietnamese government