Vietnam gets Las Vegas-style casino resort

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Vung Tau Casino
The Ho Tram resort in Vung Tau under construction

A huge leisure resort currently being set up in Vietnam’s southern beach town of Vung Tau has been granted a gambling license, the Vietnam Investment Review reported.

The $4.2 billion Ho Tram resort, one of Vietnam’s largest, said it has been allowed by the regional People’s Committee to open a casino in the Ba Ria-Vung Tau-based complex in the first phase.

The complex is being developed by Asian Coast Development Ltd (ACDL) from Canada. The Ho Tram Strip is the country’s first-ever large-scale integrated resort, spanning 164 hectares in Ho Tram, two hours’ drive from Ho Chi Minh City. The area is a prime tourist destination in southern Vietnam and also has a large Russian expat population.

The initial deal was between ACDL and MGM and other partners to open a casino and hotel complex under the MGM brand name but, however, MGM pulled out or the project.

ACDL said that it is now working with alternate partners to fill the vacancy. The Vancouver-based company also said it will announce a new opening date once discussions with its partners are concluded. Principal shareholders of the project, Harbinger Capital and casino operator Pinnacle Entertainment Inc said in a statement they remained committed to the project.

The new casino is expected to consist of 180 gambling tables and 2,000 slot machines, making it the largest ever casino complex in Vietnam.

Vietnam has licensed five small-scale casinos to operate under a pilot scheme. Two of these are located in the northern province of Quang Ninh, while the remaining are in Hai Phong, Lao Cai, and Da Nang, respectively. There are also gambling venues at several major hotels across the country. All of the said casinos are not allowed to accept Vietnamese citizens.

Some observers said that Vietnam should be more open to casinos, as it will rake in whopping profits for the country, while others said it will cause social disorders.

The new casino is set to compete with a similar complex that is currently being built in Manila as the Philippines is also aiming to cash in on gamblers from East Asia.

 

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Reading Time: 2 minutes

The Ho Tram resort in Vung Tau under construction

A huge leisure resort currently being set up in Vietnam’s southern beach town of Vung Tau has been granted a gambling license, the Vietnam Investment Review reported.

Reading Time: 2 minutes

Vung Tau Casino
The Ho Tram resort in Vung Tau under construction

A huge leisure resort currently being set up in Vietnam’s southern beach town of Vung Tau has been granted a gambling license, the Vietnam Investment Review reported.

The $4.2 billion Ho Tram resort, one of Vietnam’s largest, said it has been allowed by the regional People’s Committee to open a casino in the Ba Ria-Vung Tau-based complex in the first phase.

The complex is being developed by Asian Coast Development Ltd (ACDL) from Canada. The Ho Tram Strip is the country’s first-ever large-scale integrated resort, spanning 164 hectares in Ho Tram, two hours’ drive from Ho Chi Minh City. The area is a prime tourist destination in southern Vietnam and also has a large Russian expat population.

The initial deal was between ACDL and MGM and other partners to open a casino and hotel complex under the MGM brand name but, however, MGM pulled out or the project.

ACDL said that it is now working with alternate partners to fill the vacancy. The Vancouver-based company also said it will announce a new opening date once discussions with its partners are concluded. Principal shareholders of the project, Harbinger Capital and casino operator Pinnacle Entertainment Inc said in a statement they remained committed to the project.

The new casino is expected to consist of 180 gambling tables and 2,000 slot machines, making it the largest ever casino complex in Vietnam.

Vietnam has licensed five small-scale casinos to operate under a pilot scheme. Two of these are located in the northern province of Quang Ninh, while the remaining are in Hai Phong, Lao Cai, and Da Nang, respectively. There are also gambling venues at several major hotels across the country. All of the said casinos are not allowed to accept Vietnamese citizens.

Some observers said that Vietnam should be more open to casinos, as it will rake in whopping profits for the country, while others said it will cause social disorders.

The new casino is set to compete with a similar complex that is currently being built in Manila as the Philippines is also aiming to cash in on gamblers from East Asia.

 

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