Portraits of billion-dollar casinos in Vietnam (part 2)
By Kim Ngan
September 24, 2017 | 07:11 AM GMT+7
Up to now, Vietnam has a total of seven licensed and operational casinos for foreigners and three major casinos are under construction, including Van Don (Quang Ninh), Phu Quoc and Nam Hoi.
Casino Crowne (Da Nang) - Source: TheLEADER
As the casino business has long been considered a sensitive sector, Vietnam has just a few legitimate casinos.
In part 1, TheLeader introduced five active casinos. In the part 2, we would like to introduce 2 other active casinos and 3 casino projects that are underway.
Casino Crowne (Da Nang)
Casino Crowne in Da Nang is owned by Hui Kong China which is famous for VIP gamblers from China. During peak season, there are about 130 direct flights from China to Da Nang each week.
The Crowne Casino has 100 slot machines and 8 gaming tables. The casino is opened 24 hours a day and provides a free shuttle service to visitors in the area.
The casino resort is expected to double the number of rooms, which is a part of a US$600 million-reinvestment plan including a hotel branded JW Marriott, a tax-free shopping center and expanded casino.
Casino Ho Tram (Ba Ria - Vung Tau)
Grand Ho Tram Strip is the largest casino resort complex in Vietnam with 90 gaming tables.
The value of project is more than US$4 billion invested by Asian Coast Development Ltd. (ACDL). Harbinger Capital Investment Fund (USA) is the main shareholder of ACDL. As of June 2017, casino developers disbursed more than US$1.1 billion for the project.
The first stage of the project was finished and opened in 2013, including 541 five-star rooms, international restaurants, convention centers, casino areas, international golf courses.
As planned, by 2020, after completion, the entire project will have 9,000 five-star standard rooms, 180 table cards, 2,000 play machines, golf courses, amusement parks.
South Hoi An Casino
This project is one of the largest scale ones with its value is up to US$4 billion.
Vina Capital (an investment fund management company) re-launched the Hoi An Casino Resort complex in early 2016 after finding a new partner in the venture, Chow Tai Fook Enterprises (Hong Kong).
Previously, Genting Berhad Malaysia (GBM), a subsidiary of Genting Group Malaysia, withdrew in September, 2012.
South Hoi An Casino has been licensed but still under construction. In August, the Coteccons Construction Company officially started this project. Casino Hoi An is expected to open in the first quarter of 2019.
Casino Van Don
In Van Don, the high-level tourism complex with casino project is invested by Sungroup Group with an area of 2,500 hectares, a total investment capital of over US$ 2billion, of which the investor's capital about US$312.5 million.
Van Don Complex is a residential complex, convention center, business hotel, casino, golf course, etc will be built in the Cai Bau and Tra Island.
Casino Phu Quoc
The casino will be built on an area of 30,000 square meters with 200 to 400 gambling tables and 2,000 silver gambling machines as well as conference center, international seminar and 5 star hotels with 3,000 rooms.
Regarding to this project, in early 2015, the Ministry of Construction sent a letter to the Prime Minister in order propose the relocation of the casino from Da Chong Hamlet, Bai Thom to a new location near the Vinpearl Phu Quoc.
In addition to the active and on-going casino mentioned above, many other casino projects in Vietnam are going to be relaunched or waiting for a license.
"Everyone loves high profit but for us, profit is not our top priority," Bui Quoc Hoan, Chairman of Thuan Phat Investment and Services Joint Stock Company, shared his opinion about the investment in Phoenix Legend in Ha Long.
The Asian Development Bank (ADB) has just announced the winners of its Instagram photo contest, which was held to showcase the development progress in the Greater Mekong Subregion (GMS) in celebration of the 25th anniversary of the GMS program.
Coteccons, the main contractor of Landmark 81, has completed construction of the crown base of the tower which has a height of 400.4 meters and is an important structure to make Landmark 81 become the highest tower in Vietnam.
With a total length of nearly 7.9km, Hon Thom cable car route in Phu Quoc has been recognized as the world's longest sea cable by Guinness World Records.
The Asian Development Bank (ADB) has just launched a photo contest on Instagram to showcase the development progress in the Greater Mekong Subregion (GMS) and demonstrate how a focus on increased regional cooperation and integration can improve people’s lives.
On December 29, Agribank will auction assets related to Lifepro Vietnam Joint-Venture Company (Lifepro Vietnam) which has caused the loss of nearly VND2.500 trillion (US$110 million) and many staffs of Agribank's South Ha Noi branch to be imprisonment.
