Another integrated resort could be built in Vietnam as the country looks to direct its gambling industry to a the right path after difficult past
The coastal province of Quang Ninh in Vietnam seeks permission to build a $2-billion integrated resort with a casino in the Van Don district, local news outlets report citing information from the chairman of the municipal People’s Committee, Nguyen Duc Long.
During an online conference between the government and 63 Vietnamese provinces on Friday, Mr. Long said that the major project is currently under consideration by the Ministry of Planning and Investment and other competent agencies, and added that they hope the government would complete the review soon.
The Van Don casino resort will spread over 2,500 hectares of land. As mentioned earlier, developers plan to pour $2 billion into the scheme. Aside from a casino, the property will also feature multiple entertainment options, hotels, and food and beverage facilities.
The resort will be developed in phases, with the first phase hoped to become operational sometime in the first quarter of 2019. The whole complex is expected to be completed and become fully operational by the first quarter of 2022.
The province and developers seek a 50-year gaming license, it also became known. Once fully operational the hotel, casino, and entertainment resort is expected to generate VND250 billion (approx. $11 million) a year for the nation’s budget.
Important Economic Center
Van Don has taken a center stage in Quang Ninh’s strategy to attract investment and develop infrastructure and improve a number of local industries. So far, the Quang Ninh economic zone has captured investment capital of more than VND36 trillion into Van Don’s infrastructure.
Recent development projects have included Van Don International Airport and the Ha Long – Van Don expressway. The Quang Ninh province is also planning to kick off construction work on the Van Don – Mong Cai highway project with a total investment of over VND11 trillion in the first quarter of 2019. The scheme is expected to be completed within 22 months.
It is also important to note that if the Van Don casino resort project gets the necessary approval from the government of Vietnam, it will join several more similar plans that have been approved in recent months.
Last month, Vietnam’s Prime Minister Nguyen Xuan Phuc gave the nod to an integrated resort scheme in on the Phu Quoc island. The complex is expected to open doors in 2021 and will be the Southeast Asian country’s first gambling facility to allow nationals to gamble.
Up until recently, Vietnamese residents were banned from gambling at local casinos under the country’s casino law. In January 2017, the Vietnamese Prime Minister signed a new decree that allowed locals to enter and gamble at certain casinos during a three-year trial period. If the Government is content with the results from that period, the law could be changed permanently so that Vietnamese nationals are allowed entry into the nation’s gambling venues.
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