Banyan Tree will soon open a casino in Vietnam

The Banyan Tree Holdings group of Singapore hopes to soon receive a permission from the Vietnamese government to open a casino in their Laguna Lang Co complex which they opened in March 2013.

An impact on the development of the establishment and the local economy

The Laguna Lang Co resort is located in the Thua Thein-Hue province at the coast of northern Vietnam, which is a popular tourist destination that is known for its pristine beaches.
The complex is situated in an area of 3 square kilometres and overlooks the Truong Son mountain range.
The hotel has welcomed many visitors from all over the world since its opening 16 months ago.
The Provincial People’s Committee confirmed last week that Ho Kwon Ping, the Executive Chairman of Banyan Tree Holdings group, asked the government for permission to open a casino at this resort.
The introduction of gambling should have a significant impact on the development of Laguna Lang Co, the first project of the Singaporean group in Vietnam.
Opening a casino would also represent a significant source of revenue for the local community.

Support from the committee

In response to the request of the Singaporean company, Nguyen Ngoc Thien, the chairman of the commission, said the province supports the proposal for a casino in Laguna Lang Co, as this would be beneficial both for the operator and also for the region.
However, as the ministry of finance is currently working on the first draft of the new legislation about casino gambling in the country, Banyan Tree Holdings has to wait until the National Assembly has passed the law, in order to officially get their license .

Many other projects

Since 1992, the Vietnamese government has approved 50 gaming halls that offer slot machines, and seven larger casinos in the country.
All these casinos can only accessed by foreign customers, since gambling is still prohibited to residents of the country.
The first casino-hotel in Vietnam, The Grand – Ho Tram Strip opened in July 2013.
It is located near the seaside, less than two hours away from Ho Chi Minh City, the largest city in Vietnam.
Other operators are also seeking government permission to open casinos in the country.
The government is also seeking for foreign investors to build casinos on Phu Quoc Island in the Kien Giang province and the Van Don island in the province of Quang Ninh.