GGRAsia – Construction of new Vietnam casino soon: promoter

Construction of new Vietnam casino soon: promoter

Feb 26, 2020 Newsdesk Latest News, Rest of Asia, Top of the deck

A new casino complex within the premises of the KN Paradise Cam Ranh beach resort in Vietnam is expected to start construction “next year,” a spokesperson on behalf of the scheme’s promoter, real estate investor and developer KN Cam Ranh Co Ltd, told GGRAsia in an emailed statement on Tuesday.

The first phase of the casino is expected to open a couple of years after construction starts, the person added.

The scheme’s promoter said in a Tuesday press release that the Vietnamese government had “recently issued” an investment certificate allowing the project to develop a “large-scale casino complex” on its premises.

The statement said the company was allowed to develop a casino complex with an aggregate area of 16.2 hectares (40 acres), offering 200 gaming tables and 2,000 electronic gaming machines. KN Cam Ranh Co also stated its “formal intention” to develop a partnership with an international casino operator.

Tuesday’s release on behalf of KN Cam Ranh Co did not mention the project’s aggregate investment. The document also did not state if the resort would be able to cater for local gamblers as envisaged for some casino schemes under a trial policy pursued by the Vietnam government.

The KN Paradise Cam Ranh beach resort is located in Cam Ranh city, in Khanh Hoa province, the south-central coast region of Vietnam. It is said to be fewer than five minutes by road from the Cam Ranh International Airport, the main air hub serving Vietnam’s Nha Trang area.

The beach resort is to cover more than 800 hectares of land in Cam Ranh, and the firm’s plan includes extensive real estate development: a wide range of hospitality and residential properties; entertainment facilities; shops; amusement parks; and convention space.

Part of the development has already been realised. KN Golf Links (pictured) – a 27-hole Greg Norman-designed golf course – opened in October 2018 as part of the wider beach resort complex. The 327-room Wyndham Grand KN Paradise Cam Ranh hotel commenced operations in late 2019.