Locals not permitted
When the Vietnamese real estate firm Vingroup opens its new casino resort on the island of Hai Phong, it will cater exclusively to tourists, as residents are not currently allowed to gamble in casinos.
According to the Macau Daily Times, the resort is designed to appeal to VIP gamblers from Mainland China, many of whom are reluctant to play in Macau now that it is under the microscope of Chinese President Xi Jinping. The world’s No. 1 gaming destination is in the second year of an historic slump due to Xi’s crackdown on corruption and money laundering.
Vingroup has pledged $870 million to the casino resort, which is expected to break ground this year and be complete in 2020. The firm says the development will create thousands of part-time construction jobs and thousands of full-time jobs. Vingroup did not confirm if it has a partner in the project.
The Hai Phong resort will be built on 872 hectares (2,154 acres) and will include a 36-hole golf course, an amusement park, 1,116 “ecological villas” and a high-end cable system that will link the mainland to Vu Yen Island, reported the Daily Times.
Vingroup, founded by Vietnamese tycoon Pham Nhat Vuong, is the driving force behind the Vinpearl Luxury Da Dang, the Vinpearl Nha Trang, the Vinhomes Central Park and the Phu Quoc and Hai Phong resorts.
