A number of international gaming operators have shown interest in running a casino planned for the second phase of Vietnam’s Laguna Lăng Cô beach resort (pictured), said Andrew Klebanow of Global Market Advisors LLC (GMA), a firm advising on the procurement process.
The developer and operator of the resort issued in May a request for concepts (RFC) to develop an integrated entertainment project within the resort, likely to include gaming. The submission deadline for the RFC had been extended to September 15.
“The company received proposals from a number of highly qualified international gaming companies,” Mr Klebanow, a partner at GMA, told GGRAsia by email.
“The company is currently evaluating those proposals, and assessing them using a number of criteria,” he added.
GMA, a consulting firm serving the casino gaming, hospitality and airline industries, has been hired to conduct the gaming market assessment for Laguna Lăng Cô.
The Laguna Lăng Cô resort, a tourism project in Vietnam’s Thua Thien-Hue province, opened in April 2013. Phase I of the resort was comprised of a 57-villa Banyan Tree resort, 229-room Angsana resort, and luxury residences. It has an 18-hole golf course and a conference centre.
Banyan Tree is a hotel brand of Singapore-listed hotel and resort developer Banyan Tree Holdings Ltd. Banyan Tree Capital, the hotel group’s investment arm, is overseeing the RFC process for Laguna Lăng Cô’s integrated resort.
“The company expects to make a decision and complete negotiations with the selected operator prior to the start of the National Assembly in early 2016,” Mr Klebanow said.
Vietnam’s National Assembly – the country’s legislative body – usually convenes twice a year. A resolution adopted in June scheduled the last sitting of the 13th legislature early next year, according to local media reports.
Vietnam’s government is reportedly considering a draft decree that would ease gaming-related regulation, including the possibility of allowing local citizens to enter casinos under certain conditions.
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”Assuming that our [Tigre de Cristal] phase two project and the other future operators’ development plans remain on track, we may see the benefits of a ‘cluster’ effect [in the Primorye Integrated Entertainment Zone] as early as 2021”
Summit Ascent, lead developer of Tigre de Cristal