Canadian firm to invest in Vietnam
Posted by Carl Barnett on 04 May 2010 at 13:05
An investment team based in Vancouver has taken the relatively unusual step of making plans to open up a new casino resort in the country of Vietnam. The new resort complex will be called the Ho Tram Strip, in recognition of other ‘strips’ such as the ‘Las Vegas Strip’.
In keeping with this nod to the US market, the casino will be Vietnam’s first ever Las Vegas style casino resort.
The group, Asian Coast Development Ltd, have hired MGM Mirage as building and development partners.
MGM will run the resort, which is expected to cost $400 million to develop, and will have 1,100 rooms in which guests can stay.
It is expected to be opened in 2013, with the name the MGM Grand Ho Tram. The government of Vietnam have granted the group a license to invest that lasts for 50 years, the license permitting the group to build 180 table games in the resort.
Asian Coast Development Ltd has been forthcoming about their plans, stating that they envisage a property built on ‘420 acres of land’.
