Does Vietnam’s Khanh Hoa Province have room for a second casino? Authorities there say it does, and are seeking approval from the national government for a resort project valued at US$2.24 billion.
The entertainment complex would be located on Hon Tre, a coastal island near Khanh Hoa’s provincial capital, Nha Trang, reports GGRAsia. Hospitality firm Vinpearl Co., part of the powerful Vingroup, is said to be one of the backers, according to local media outlets Tuoi Tre News and VnExpress. Both media outlets cited remarks from the Vietnamese Ministry of Finance, which touted the benefits of the plan as a way to build tourism and socio-economic development.
In 2019, Khanh Hoa got the approval of the prime minister for another casino project said to involve a US$2.02 billion investment, and to be located in Cam Ranh City, according to the local media reports.
Only two casinos in Vietnam are currently allowed to serve local players under a pilot program undertaken by the national government. Locals must meet income thresholds in order to enter and play, and also pay an admission fee.
One casino permitted to accept locals is the already-operating Corona Resort and Casino, on the southern island of Phu Quoc. The other is due to open in Van Don in the northern province of Quang Ninh.
