Laguna Lăng Cô, developer of the Laguna Lăng Cô resort in the Vietnamese province of Thua Thien-Hue, announced that it is to move forward with Phase II of its multimillion project.
Phase I of the development features a 229-room Angsana resort, a 57-villa Banyan Tree resort, luxurious residences, an 18-hole golf course, designed by Nick Faldo Design, a number of dining and entertainment facilities, and a conference center.
Phase IIA of the property is expected to include new accommodations and a gambling facility, provided that the developer receives the necessary approval.
Andrew Klebanow, a Global Market Advisors partner, commented on the Laguna Lăng Cô project as one similar to Laguna Phuket, “only master planned on a far grander scale.” According to him, the resort would exceed its visitors’ expectations and the potential addition of a gambling facility will further enhance their experience.
Global Market Advisors was the firm that was hired to carry out a market assessment for the construction of a casino at the luxurious resort.
A Request for Concepts (RFC) for the addition of a casino was issued on May 26, 2015. Back then, Steve Small, Managing Director of Banyan Tree Capital, the parent company in charge of the project, explained that it would by no means be involved in the operation of a potential gaming facility. The developer will only look for gambling operators to run the venue.
Mr. Small also pointed out that experienced gaming companies will most definitely be interested in the opportunity to manage a casino that is intended to attract visitors from Mainland China and other Asian countries.
According to the latest announcements, the RFC is due to expire on August 6, 2015.
The developer also pointed out that the selection of the company that is to manage the casino would coincide with the convening of Vietnam’s National Assembly in the beginning of 2016. Legislators are expected to discuss the future of the country’s gaming and tourism industry, as well as the creation of a more effective gaming licensing policy and regulatory regime.
Currently, Vietnamese casinos allow only foreign players at their premises. It was reported that the country’s legislators are considering the legalization of casino gambling for residents. According to prominent gaming analysts, if this happens, more foreign investors will express interest in investing in Vietnam’s tourism and gambling industry.
