The Prime Minister agrees in-principle to open casino in Laguna Lang Co resort
By Nga Vu
January 05, 2018 | 06:05 AM GMT+7
Prime Minister Nguyen Xuan Phuc has agreed in principle to permit Banyan Tree Holdings Limited, investor of Laguna Lang Co Resort project in Thua Thien – Hue province to increase investment capital of the project from US$875 million to US$2 billion and open a casino.
If approved, Laguna Lang Co resort project will contribute US$245 million to the province’s budget each year from 2021.
On January 02, the leaders of Thua Thien – Hue province had a meeting with Prime Minister Nguyen Xuan Phuc and the Government’s task force.
Nguyen Van Cao, Chairman of Thua Thien-Hue Provincial People's Committee proposed to the Prime Minister to approve of Banyan Tree raising investment capital of Laguna Lang Co resort project to US$2 billion and opening a casino.
According to the investor’s plan, the casino is expected to come into operation by 2021 with 500 electronic gaming machines and 50 card shufflers. The figures are expected to increase to 2,000 machines and 200 card shufflers by 2029. Besides, the investor will add six five-star hotels and more than 2,200 villas and apartments.
After consideration, the Prime Minister approved Thua Thien – Hue province’s leader’s proposal in principle.
There are currently eight casinos in operation of which The Grand casino located in Vung Tau province is the largest with 90 game tables.
The 280-hectare Laguna Lang Co resort project, when fully developed, will comprise seven hotels with a total of 2,000 rooms, a golf course, residences and convention facilities.
The first phase of the project, comprising two hotels, the golf course and residences, was completed in 2013, covering an investment capital of US$200 million.
In addition to Laguna Lang Co resort project, Banyan Tree is planning to expand its business in Vietnam. In early August, Banyan Tree conducted a field survey to build a luxury hotel in Ha Giang province.
Banyan Tree Holdings Limited is a leading international hospitality brand that manages and develops premium resorts, hotels and spas. From a single boutique resort in Phuket that launched in 1994, Banyan Tree has grown into a multi-business operator globally. Listed on the Singapore Stock Exchange since 2006, the group has 36 hotels and resorts, around 73 spas, 91 galleries and three golf courses in 28 countries.
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