Vietnam Oks $2 Billion Casino Resort Project in Van Don
A proposed $2 billion project set to bring a large-scale casino and entertainment complex to Van Don in Vietnam's northern province of Quan Ninh has received the green light from the government.
LISTEN TO THIS ARTICLE:The investment policy was approved by Deputy Prime Minister Tran Hong Ha on June 27 through Decision No. 1395, paving the way for the construction of the integrated resort. The resort will span 244 hectares and include a pilot casino exclusively for Vietnamese citizens, as well as hotels, villas, retail areas, conference facilities, and entertainment attractions.
It has been estimated that the project's construction will take up to nine years from the land allocation date to complete. When it achieves full operations, authorities expect the project to generate an annual net profit of VND4.35 trillion and a post-tax profit of VND8.2 trillion.
Based on projections, the complex will recoup its investment in 32.8 years and generate VND228 trillion for public coffers over its 70-year operating period.
Furthermore, the complex is projected to create nearly 6,000 jobs and establish Van Don as a premier marine and island tourism hub by 2030. The region is well-positioned to attract high-end tourists with its key infrastructure, such as Van Don International Airport, Ao Tien Port, and the Ha Long-Van Don-Mong Cai Expressway, facilitating travel to major destinations in northern Vietnam and southern China.
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The provincial government will oversee investor selection and ensure compliance with regulations while monitoring capital flow and community impact. The project's progress hinges on land clearance, environmental impact assessments, and compliance with relevant land, forest, and water use regulations.
Grand Ho Tram Embarks on Development Project
As Vietnam prepares to welcome a new player into its land-based gambling sector, another established operator seeks to redefine its market position. Last month, the Grand Ho Tram officially began an expansive new development project to significantly enhance its status as a premier integrated resort destination.
Valued at $1 billion, the project will see the resort add a five-star hotel complex, high-end resort villas, a comprehensive suite of entertainment facilities, and an international convention and exhibition center to its existing offerings.
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