- It has been reported that Hard Rock International is interested in a casino project in Vietnam
- Project is for construction and operation of a new casino resort in Laguna Lăng Cô beach
World-famous casino resort owner and operator, Hard Rock International Inc. has reportedly announced its interest in constructing a new casino at Laguna Lăng Cô beach resort, which is in the Thua Thien Hue province of Vietnam.
The story so far
The senior vice president for casino business development in Asia at Hard Rock International, Daniel Cheng, has reportedly said that the firm had been shortlisted as a possible partner for the resort after it took part in the request for concepts process in 2015.
He is also quoted as saying: “We have finished all the site studies and completed all project financing.” He makes it known that the only thing that Hard Rock International are waiting for is Vietnam’s government to award the casino’s operating license.
The project to renovate Laguna Lăng Cô began in April 2013, with the first phase of the project comprising a 57-villa resort (owned by Banyan Tree), a hotel with 229 rooms, and an 18-hole golf course.
Banyan Tree is a hotel brand based in Singapore, and it is they who oversaw the 2015 request for concepts process that began the development of Laguna Lăng Cô beach resort.
Meanwhile, Global Market Advisors LLC – a consulting firm based in Las Vegas – were responsible for advising on the process of finding a suitable partner for the resort to operate the casino.
In October 2015, Global Market Advisors LLC are alleged to have said that many international operators had expressed their interesting in holding the license for the new casino.
According to VietNam News, provincial authorities in the Vietnamese Thua Thien Hue region have requested the government’s permission to raise the investment capital threshold for the Laguna Lăng Cô resort to $2 billion, which is the minimum amount required for a Vietnamese casino resort to be thought eligible.
But the casino facility is expected to “have a capital cost of nearly $250 million,” which is likely to be put into place in the second, third, and fourth project phases, according to GGRAsia.
Being such a world-renowned company, it is no secret that Hard Rock International has been seeking opportunities to expand its Asian “gaming footprint.” With Vietnam conquered, the firm is now said to be pursuing a casino license in Japan.
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