A new casino may soon join Vietnam’s gaming resort projects.
According to the report, the Thua Thien Hue Provincial People’s Committee (PPC) wants the government’s permission to increase Lang Co Laguna beach resort’s investment capital to US$2 billion and to open a casino in the complex.
Located in the North Central Coast region, the beach resort project has a current capital of US$875 million and is spread over 280 hectares. Under the proposal, PPC expects the casino facility to cost nearly US$250 million and will be implemented in the second, third and fourth phases of the project.
The PPC will partner with Hard Rock International for the hotel and casino operations, Vietnambiz reported.
The casino business is expected to contribute US$245 million annually to the local budget starting 2021. The plan has already received the green light from the Ministry of Defense and the Ministry of Culture, Sports and Tourism, according to the Vietnamese news outlet.
The resort, which opened its first phase in 2013, has a 57-villa Banyan Tree Resort, a 229-room hotel under Angsana Lang Co, an 18-hole golf course as well a conference center.
If approved, the Lang Co Laguna beach resort could take part in the government’s three-year test of allowing its locals to gamble in the country’s casinos, which have been reserved for international tourists and Vietnamese nationals who hold foreign passports. According to GGRAsia, the US$2 billion is among the requirements for a Vietnam casino resort to be considered to take part in the three-year trial.
The pilot program was said to apply only at two casinos—one in Quang Ninh province in the country’s north and the other on Phu Quoc island in the south—neither of which has been built yet.