Hard Rock reportedly interested in Vietnam Casino Resort

Under the plan, the casino business is expected to be implemented in the second, third and fourth phases of the project, with capital of nearly USD 250M on a 2.64ha area.

The project is estimated to contribute USD 245M annually to the local budget from 2021 if it is approved. According to the proposal, the Ministry of Defence and the Ministry of Culture, Sports and Tourism have also approved the plan.

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The Government Office has informed relevant agencies to consider the proposal of Thừa Thiên-Huế Province.

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The Laguna Lăng Cô project received an investment certificate from the management board of the Chân Mây-Lăng Cô Economic Zone in March 2007, which was modified in June 2014. The project has registered capital of $875 million and is spread over 280ha.

It is designed to serve 400,000 visitors each year with its resorts, spas, hotels and restaurants.

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Reportedly, Florida-headquartered casino and café chain operator Hard Rock International has lodged interest in operating the gambling venue.

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Vietnamese media outlets have reported that Thừa Thiên-Huế officials have also requested a permission for Lang Cô developers to increase the investment capital for their resort to USD 2B and to open a casino venue.

The resort will thus seek to become part of the recently introduced pilot plan, under which the government will allow certain Vietnamese casinos to admit local players to their premises. Vietnamese nationals are currently prohibited from playing at local casinos.

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The pilot plan will help the government review the state of the country’s casino industry and possibly revise the ban on local players.

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According to local media, the Ministries of Defense and of Culture, Sports and Tourism have approved Banyan Tree Lang Cô’s casino proposal. It is believed that the gambling venue will be launched with Phase Two of the masterplan.

Phase One of the resort was launched in 2013 with 57 villas, a 229-room hotel, a conference center, and an 18-hole golf course, designed by English golf professional Nick Faldo. Under development plans, the resort will add two more five-star hotels by 2020 with a total of 1,000 rooms, as well as more than 1,600 villas. More villas and hotel rooms are planned to be included by 2025. The whole complex is expected to be completed by 2030 with 1,000 more hotel rooms in two five-star hotels as well as 315 villas.