- Casino, estimated to cost $2 billion to construct could contribute $245 million a year to economy
- Some news sites have suggested that Hard Rock International have expressed interest in the site
Earlier this week, VietNam News reported that officials in Thua Thien-Hue have asked permission to build a casino at the site of the Lang Go Laguna beach resort, which covers a pretty substantial 280 hectares of land.
And, if the reports are anything to go by, it appears as though it will be a casino of the grandest order – sources are suggesting that an amount of around $2 billion will be required to spend to make such a build “eligible.” For this reason, the Thua-Thien-Hue Provincial People’s Committee is seeking to raise the investment capital to this amount.
Pilot plan will allow locals to play
At present, Vietnamese locals are banned from entering, and playing at their own country’s casinos. But according to reports, the resort seeks to become part of Vietnam’s new pilot plan, under which the country’s lawmakers will permit some of its casinos to allow entry to local players. This will take the form of a three-year trial to see if the plan will work.
It is believed that this new plan will introduce its casino aspects in the second, third, and fourth project phases. The capital is estimated to be around $250 million, with an annual contribution projection of around $245 million as of 2021 – if it approved, that is.
This has already been given the go-ahead by the Ministry of Defense and the Ministry of Culture, Sports and Tourism, says Vietnambiz. Only two other casinos in the country – one in Phu Quoc island, and on in the province of Quang Ninh – are expected to participate in the pilot plan.
Who will operate the new site?
Hard Rock International is alleged to have expressed interest in becoming the operator of the new casino in Vietnam, with some news outlets suggesting that a decision may have already been made in this vein.
Recently, however, they have turned their backs on a joint venture with Melco International Development, of Hong Kong in Japan, to construct Cyprus’s first integrated casino resort.
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