Vietnam resort to expand as awaits casino: report

Jun 10, 2016 Newsdesk Latest News, Rest of Asia, Top of the deck  

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Vietnam’s Laguna Lăng Cô beach resort (pictured), is committed to expanding the number of hotels at the site even as it awaits the outcome of efforts to acquire a casino licence from that country’s authorities, reports the Vietnam Investment Review.

The media outlet – citing Alexa Phan, marketing director of Laguna Lăng Cô as the source of the information – said there would be six more hotels, and other supporting infrastructure.

The 300-hectare (741-acre), US$875-million project will be carried out over four phases, the second of which is currently under development, said the news outlet. The first phase, which carried a price tag of US$200 million, became operational in 2013.

On March 19, the business news outlet had reported that the idea of allowing a casino at Laguna Lăng Cô had been raised at a meeting on March 14 between officials from Thua Thien-Hue province – where the resort is located – and Vietnam’s Minister of Finance, Dinh Tien Dung.

Phase one of the resort saw the construction a 57-villa Banyan Tree resort, a 229-room Angsana resort, and an 18-hole golf course and conference centre.

Banyan Tree is a hotel brand of Singapore-listed hotel and resort developer Banyan Tree Holdings Ltd.

In May 2015, GGRAsia had reported that Banyan Tree Capital, the hotel group’s investment arm, had initiated a request for concept from interested parties for a gaming resort at Laguna Lăng Cô and had asked Global Market Advisors LLC to oversee the process.

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