The Laguna Lang Co in Vietnam, is a resort paradise with hotels, private villas, 18-hole prime golf course, convention accommodations, recreation and miles of beach and may soon add a casino. Banyan Tree Holdings, which applied to the Vietnamese government for a casino, is a developer of upscale properties and resorts from Singapore.
Chairman of the Thua Thien-Hue province where Laguna Lang is located, Nguyen Ngoc Thien was in agreement with Banyan’s proposal because he believes the province and developer will benefit. As the Ministry of Finance drafts Vietnam’s casino regulations, the National Assembly must ratify the laws before Banyan can raise the casino. Banyan was tight-lipped on the casino’s design.
It is too early, he said.
Banyan is one of several developers trying to open casinos in Vietnam, which presently houses seven casinos and 50 electronic gaming outlets. Only foreigners are able to frequent the casinos—Vietnamese nationals are not legally allowed to gamble.
VinaCapital, an asset management firm, is targeting Quang Nam for a large casino project while the country’s government is scouting foreign investors to come in and build casinos on the islands of Phu Quoc and Van Don. A people’s committee in Danang is asking for two casinos.
