Gaming solutions provider Success Dragon Holdings Ltd. has permanently shelved its plan to expand its operations in Vietnam through a 45-percent share acquisition of a five-star hotel in the Southeast Asian nation.

In a disclosure to the HongKong Stock Exchange, Success Dragon announced that it is terminating its plan to acquire the entire issued share capital in Vabis Building Consultants and Engineering Ltd, which would have given it a 45-percent stake in a company owning One Opera Danang Hotel – a five-star hotel project – and a plot of land in Danang, Vietnam.

The terminated deal also includes the electronic gaming machine club operated in the premises of the hotel.

The reason for the cancellation of the project, according to the HongKong-listed company, was due to the fact that the vendor – My Ngoc Nguyen – had “difficulty in obtaining the requisite consent for the implementation of the [asset] reorganization.”