GGRAsia – Vietnam resort to expand as awaits casino: report

Vietnam resort to expand as awaits casino: report

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

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.