Rolling the Dice in Central Vietnam: A Four Billion Dollar Project
Thursday, 20th February 2025
At this year’s Rolling the Dice in Central Vietnam: A Four Billion Dollar Project event, hosted by the The Reverie Saigon, we were joined by Steven Wolstenholme, outgoing President & CEO – Hoiana Resort & Golf.
Introduction to Steve Wolstenholme and His Background
Steven Wolstenholme, the outgoing President and CEO of Hoiana, shared his extensive background in the casino, hospitality, and development industry. He recounted his transition from civil engineering into the casino business, starting as a croupier and working his way up the corporate ladder. Over the years, Steven has been involved in the development of several billion dollar plus integrated resort projects around the globe, including in Vietnam.
Balancing Different Guest Segments
A key focus for Hoiana is balancing the needs of different customer segments – high-roller gamblers, domestic visitors, and international pleasure tourists. Steven explained the importance of offering a diverse range of amenities beyond just the casino to attract a wider clientele. However, he acknowledged the casino business remains the primary revenue driver, and managing that aspect is key to bring a healthy return on investment.
Navigating Government Relations and Regulations
Steven emphasized the significance of government relations and working collaboratively with regulators in Vietnam. He shared insights on navigating the approval process, noting the importance of understanding the Vietnamese government’s priorities and aligning Hoiana’s goals accordingly. Steven reflected on the need for self-reflection as a leader and the challenges of managing multiple stakeholders.
Shifting Focus Towards Real Estate Development
Steven highlighted the shift towards real estate development as the Hoiana project evolves, while still maintaining a strong casino and hospitality presence. He provided further details on the project’s future plans, including upcoming phases of development.
Q&A and Industry Insights
The session included a Q&A where Steven provided additional insights on the hospitality and casino industry, the potential impact of local gaming regulations, and Hoiana’s future plans. He shared his perspectives on the complexities involved in developing and operating a multi-billion dollar integrated resort project in Vietnam.
Overall, the event offered a comprehensive look at the challenges and strategies involved in managing a large-scale integrated resort project like Hoiana, with valuable insights from an industry veteran like Steven Wolstenholme
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