Initial plan cannot be amended
A multibillion-dollar real estate development planned for Ho Chi Minh City has run into trouble, according to VietnamNet. Among the investors in the proposed project are William Weidner, former president and chief operating officer of the Las Vegas Sands Corp.
The initial plan included a 70-story tower, office building, shopping mall and entertainment area, reported the Asia Gaming Brief. While a casino was not part of the plan, the level of investment suggested gaming was part of the long-term plan. In June, VietnamNet reported that the investors wanted to “fast-track the scheme” and complete the development by 2020.
However, they cannot make amendments to the initial development plan under the rules of the Thu Thiem Urban Area Management Board. Presumably, that means no casino can be added.
In July, Vietnam’s draft casino bill, in the pipeline for seven years, was finally submitted to the country’s government. The decree will reportedly allow local Vietnamese access to casinos for the first time, which has sparked new interest in the jurisdiction, according to the Vietnam Investment Review.
