Hong Kong’s billionaire Cheng family has assumed control of a casino resort in Vietnam from the former listed company of jailed Macau gambling kingpin Alvin Chau, according to people familiar with the matter.
LET Group Holdings, which used to be part of Chau’s business empire Suncity Group, has ceased to be involved in the management of the Hoiana resort near the Vietnamese port city of Da Nang. The Cheng family’s flagship investment firm Chow Tai Fook Enterprises now oversees the resort’s operations, the people said, asking not to be identified discussing confidential information.
