Will Vietnam allow locals to gamble?
A Vietnamese waterfront resort is looking to develop an integrated resort with gaming, according to GGRAsia.
Laguna L?ng Cô in Vietnam’s Thua Thien-Hue province has issued a request for concept to develop the project. The beachfront resort, which first opened in March 2013, includes a Banyan Tree hotel, an Angsana spa, a championship 18-hole golf course, meeting and convention facilities, and a number of private villas and residences. It is bordered by a tropical forest and mountain range and is located 49.5 kilometers (about 31 miles) from the city of Da Nang.
Banyan Tree Capital will oversee the RFC process and has designated Global Market Advisors LLC as its strategic procurement advisors. In a statement, the company said it will not operate the casino.
“This RFC process is to identify quality companies who can and will” run the gaming aspect, said Banyan Tree Capital Managing Director Steve Small. “The master plan is currently under consideration to be awarded a gaming license, and we believe that experienced operators will be interested in the potential of integrated entertainment facilities and support the government’s aim to boost Vietnam’s tourism competitiveness.
“We are seeking facilities and strategies that are focused on attracting foreign tourists from greater Asia, with a particular focus on inbound tourists from China and greater Asia,” he said.
“Our team looks forward to interacting with senior executives in the global gaming industry on this very unique opportunity,” added Jonathan Galaviz of Global Market Advisors. “Vietnam’s tourism and gaming sector is growing and this project aligns with a story of economic growth.”
Permitting locals to gamble is likely to attract more investors, according to the report; presently, Vietnamese citizens may work in casinos, but not play in them.
