Vietnam’s Sun Group says it has been selected by the country’s authorities as the investor for a US$2-billion resort scheme (pictured in an artist’s rendering) at Van Don, Quang Ninh, on the northern coast, which will be permitted to have a “high-class casino”.
The casino would “allow Vietnamese citizens to participate under a carefully regulated policy,” said the promoter in a Saturday announcement.
Earlier this month, local media reported that Vietnam’s Ministry of Finance had proposed resuming the principles of a recent trial programme that has allowed economically-qualified locals to gamble in casinos authorised to accept them. Only one – Corona Resort & Casino at Phu Quoc – had so far been permitted to run a pilot system allowing locals to gamble, but that lapsed at the turn of the year.
But the reports earlier this month, said a fresh locals-gaming policy would simplify a previous wealth test, and charge locals either an entry fee of VND2.5 million (about US$100) for 24-hour access, or VND50 million – about US$2,000 – for a month’s access.
Sun Group stated in its Saturday update that aside the casino, the project would “combine leisure, hospitality, and cultural experiences, forming an ecosystem designed to attract both global travellers and Vietnam’s middle- and affluent classes”.
The company said the “Van Don Integrated Casino & Tourism Complex” represents “total investment capital of more than US$2 billion, funded through investor equity, loans, and other mobilised sources”.
It stated that the approved operating term would be “up to 70 years from the date of official investor approval”.
“The construction timeline and commissioning schedule are projected at nine years, starting from the date of land allocation and lease for the project,” it added.
The statement noted the Van Don project had previously been approved in principle by the country’s prime minister in a decision dated June 27 this year.
Quang Ninh tourism
According to the approved master plan, the project will cover 244.45 hectares (604.0 acres) inside the Van Don Economic Zone.
It is envisioned as a “’mega’ integrated resort and entertainment complex of international scale for Vietnamese citizens,” added the update.
The complex will integrate multiple functions, including: “Luxury casino operations, high-end hotels and resorts, condotels and shophouses, shopping and commercial centres, large-scale convention and exhibition halls, [and] international-standard sports and recreation facilities, as well as premium wellness, health care, and entertainment services.”
The announcement cited Nguyen Quang Huy, chairman of Sun Group Northern Region, as saying: “We believe this project will create unprecedented experiences for guests, while making a significant contribution to Quang Ninh’s economy and driving the Van Don Economic Zone forward to become a new benchmark of tourism and entertainment in Vietnam.”
Sun Group’s statement said the complex would also serve as a hub for “international-scale art performances, world-class cultural shows, and vibrant entertainment venues operating around-the-clock”.
The company added: “With this ambition, Van Don is expected to position itself alongside renowned global destinations such as Macau (China) and Las Vegas (U.S.A.), becoming a new symbol of luxury tourism and gaming in Quang Ninh province, while contributing decisively to the development of the Van Don Economic Zone and enhancing Vietnam’s stature on the global tourism and leisure map.”
The company said it had already invested heavily in the area to support tourism development. These included: Van Don International Airport, which it said was Vietnam’s first privately backed international airport; Ha Long International Cruise Port, described as the nation’s first dedicated terminal for international cruise ships; as well as modern expressways from Ha Long to Van Don, and from Van Don to Mong Cai.
Alongside this infrastructure, Sun Group stated it had also developed “world-class leisure and hospitality assets”, including Sun World Ha Long, Yoko Onsen Quang Hanh hot spring resort, and Oakwood Ha Long five-star hotel, “all of which have helped reshape Quang Ninh’s tourism landscape, affirming Sun Group’s capacity to implement large-scale infrastructure and tourism projects”.
