Under the deal, announced on Friday via the London Stock Exchange's Alternative Investment Market (AIM), Vina Capital unit Vinarland Ltd sold its ownership stake, which the latter calls the "HAS project," to Gold Yield Enterprises Ltd, a subsidiary of Chautai Phuk Enterprise Ltd. The family of Hong Kong businessman Cheng Yu Tung, a longtime business partner of Stanley Ho Hong Sun, founder of Macau casino investor SJM Holdings Ltd, controls the latter's privately owned conglomerate.

Following the deal announced on Friday, Vinarland disposed of all 100% of its stake in HAS Project to Gold Yield. Under the agreement, VinaLand said it was valued at 53.5% higher than its unaudited net asset value recorded at the end of the first half of 2015 and posted a net profit of $10.5 million.

In a press release submitted to AIM, VinaLand confirmed that its parent company, Vina Capital, is connected to the project.

"Given the complexity of the project and the ongoing challenges at hand, the buyer has requested that Vina Capital continue to participate in the project," VinaLand said. It did not specify what the challenge was.

It has been widely reported that the Vietnamese government is considering whether to allow Vietnamese citizens access to casinos in the country - perhaps experimentally at selected locations, with financial qualifications. Currently, only foreign passport holders can use the place.

Vietnamese authorities have stipulated that the new casino resort project requires at least $4 billion in capital investment per plan, which many investment analysts in the gaming sector say creates significant hurdles regarding return on investment capital unless locals are allowed to gamble at the resort.

There are supporters inside and outside the Vietnamese administration who are in favor of market liberalization. Augustin Ha Ton Vinh, a scholar who says he is advising the government on liberalizing Vietnam's gaming industry, recently said he could lose $800 million in annual tax revenues from Vietnamese gambling in neighboring Cambodia.

Related to Vina Capital

Since Malaysia's Genting Group withdrew from the Quang Nam project in 2012, Vina Capital has been "asking new partners with appropriate experience to participate," Vina Land said in a statement Friday.

"Therefore, as part of this disposition, the manager is responsible for effectively approving Vinarland's transaction by completing a number of conditions that remain pending as of the trading date. Managers will also be obliged to purchase an additional 9.36% stake in the project, and will receive a 22.55% stake in exchange for transferring certain economic rights to games secured in connection with the project," a statement from VinaLand added. 슬롯

The Quang Nam plan is not the only casino project outside Macau linked to interests controlled by Chow Tai Fook Enterprises and the Cheng family.

In June 2014, Australian casino operator echo entertainment group said in a filing that echo had signed a memorandum of understanding with chautai puk enterprises to develop a new casino resort in Brisbane, Queensland. In July, Echo was named the "preferred bidder" for the plan by the state government.

Chow Tai Fook Enterprises is expected to provide 25 percent of the capital for the Brisbane project. Although Echo hasn’t given any public commitment on the minimum amount of money to be invested in the project, media reports have mentioned a figure of approximately AUD2 billion (US$1.47 billion).

Chow Tai Fook Enterprises signed a letter of intent to invest $1.6 billion to create a new Korean casino resort in Incheon, near Seoul, the nation's capital.

The South Korean government has issued "proposal requests" from casino investors, with at least two new permits likely to be issued for gambling resorts, and game components open to foreign customers only.