In Vietnam, the Laguna Lang Co beach resort near the historic city of Hue was reportedly awarded a casino license late last month and could now begin welcoming both foreign and domestic players as soon as 2022.
According to a Friday report from GGRAsia citing an earlier story from TTG Asia, the seaside property owned by Singapore-listed hospitality firm Banyan Tree Holdings Limited opened in April of 2013 and already features a 229-room hotel alongside a 57-unit villa complex and an 18-hole golf course designed by Sir Nick Faldo.
January saw the nation’s Ministry of Planning and Investment recommend that the venue in Thua Thien Hue province be given permission to operate a casino as part of a three-year trial and this reportedly prompted widespread speculation that American firm Hard Rock International could be prepared to sign on as an operating partner.
“Many hotel investors and development funds have been awaiting the casino license and the selection of a casino operator before finalizing their investment into [the property’s second phase],” Ho Kwon Ping, Executive Chairman for Banyan Tree Holdings Limited, reportedly told TTG Asia during last month’s Vietnam-Singapore Business Forum 2018 event.
GGRAsia moreover reported that an official 2015 requests for concepts proposal saw Banyan Tree Holdings Limited detail that the granting of a gambling license would lead to it spending up to $2 billion in order to construct as many as six five-star hotels and around 2,200 apartments and villas as well as a $250 million casino.