The Harbinger Capital, which is the biggest investor in the ACDL – Asian Coast Development Ltd., was recently announced to have spent another $50 million on one of its current endeavors: The Grand Ho Tram Strip. Ho Tram Strip is a massive project, which will cover 169 hectare of land in Vietnam, and is an investment of over $4.2 billion.
When the casino project is completed, it will incorporate more than 9,000 rooms, five resorts, casino halls, restaurants, clubs, a golf club, etc.
As for the gambling facilities, there will be 180 tables and 2,000 gaming machines available within the luxurious property.
ACDL has received a number of investment pledges over the last few months. One of them was submitted by New City Capital officials and the others were from Harbinger.
The director of Harbinger Capital was happy to share his thoughts on how the management feels about the investment.
He explained that the project was going as planned, and the company is further being ‘encouraged by the Vietnamese government’s progress on establishing a robust regulatory framework that will also provide a road map for the establishment of local gaming in Vietnam.’
The resort is being built over a few phases. The first finished site was opened in 2013 and can take pride in being defined as a wonderful venue, by both tourists and experts who have visited the five star resort which has over five hundred rooms.
The current investments made by Harbinger Capital and the other minor shareholders are going towards the development of the next resort. Its size would be similar, with a variety of entertainment and hospitality options.
Meanwhile, Asian Coast executives reported that the company has a new chairman and his name is Stephen Shoemaker.
Mr. Shoemaker also commented on the current project, and said that company officials have concentrated all their efforts on establishing a solid plan for the further development of the Ho Tram Strip project. He promised more details to be revealed to the public really soon.
The golf course of Grand Ho Tram Strip is expected to become available for players by the end of October. Greg Norman – one of the best golfers of all time, will be a guest of honor during the grand opening.
Sadly it seems, Vietnamese residents are currently prohibited from participating in gambling activities available on the territory of the country. However, there is a possibility for the government to lift the ban in the foreseeable future.
Nevertheless, for now, only foreigners are allowed to enter casino premises upon showing a valid passport.
