Chinese casino operator and real estate developer Chow Tai Fook Enterprises Ltd. has took the controlling stake in long-stalled $4b Nam Hoi An casino resort in Vietnam.

VinaCapital’s London Stock Exchange’s Alternative Investment Market listed fund VinaLand Limited has disposed its 100% stake in the Nam Hoi An casino resort project to Gold Yield, the a unit of Chow Tai Fook, was valued at 53.5% above the unaudited net asset value recorded at the end of the first half of 2015, and had resulted in a net gain of US$10.5m.

“The disposal of this land is consistent with the company’s strategy to divest selected assets by the end of the current term, as stated at the time of VinaLand’s extraordinary general meeting in November 2012, and net proceeds of the realizations will be returned to shareholders,” said VinaCapital in a statement.

However, due to “the complexity of the project and the ongoing challenges it faces, Chow Tai Fook has requested that VinaCapital continue to be involved in the project,” obligated to purchase 9.36% stake in the project, which in return will receive an equity interest of 22.55% in return for the transfer of certain economic rights to gaming it had secured in respect to the project.