KN Cam Ranh Co. Ltd., a Vietnamese real estate investor and developer, has stated its intention to build a casino resort in the country’s Khanh Hoa Province, and is looking for an global gaming operator to partner on the project.
According to GGRAsia, on February 25 KN Paradise Cam Ranh beach resort announced that the government has approved a “large-scale casino complex” on its premises, spanning 40 acres, with 200 gaming tables and 2,000 electronic gaming machines.
The release quoted KN Paradise Cam Ranh’s investment deputy-general director as saying: “It is with great enthusiasm that we are adequately ready to cooperate with the international casino gaming operators for the development and operation of our integrated resort in Cam Ranh. Undeniably, our strategic location and development plan will create an indispensable addition to the Pan-Asia integrated resort marketplace.”
The Vietnam government requires a minimum capital commitment of US$2 billion, according to a government decree issued in 2017, for investment in major casino projects. At least US$1 billion has to be invested before the casino is allowed to open, stated the government’s decree.
