The Singaporean investor has been granted the casino investment and business license for Laguna Lang Co Resort project by Thua Thien-Hue provincial People's Committee during the recent visit of Prime Minister Nguyen Xuan Phuc to Singapore.
Under this license, Laguna Vietnam Co., Ltd. will increase its charter capital from $175 million to $300 million and its investment capital from $875 million to $2 billion to supplement its casino business and make the additional investment in the work items.
Laguna Lang Co Resort project invested by Laguna Vietnam Co., Ltd. under Banyan Tree Co., Limited was granted investment certificate in 2007 with a total investment of $875 million.
Located in the Chan May - Lang Co economic zone, the first phase of the project, which consists of Angsana Lang Co Hotel with 229 rooms, Banyan Tree Residences with 57 villas and 18-hole golf course with a capital of nearly 300 million USD, has been in operation since 2013.
Based on the proposal of the investor, the casino business will cover an area of 2.64 ha with investment capital of $250 million. The existing scale of investment portfolio is changed accordingly. Specifically, there are sharp increases from 2,180 hotel rooms to 3,178 rooms and from 1,180 villas to 2,253 villas.
The investor is deploying the execution of items so that the entertainment complex with casino will come into operation in 2021.
The investor plans to divide the casino business into three phases of which the first phase will have 500 gaming machines with bonus and 50 card shufflers.