Banyan Tree awarded first Vietnamese casino licence in a decade
Laguna Lăng Cô has been issued a casino license by the Vietnamese government.
At the recent Vietnam-Singapore Business Forum 2018 in Singapore, presided by the Vietnamese prime minister Nguyen Xuan Phuc, the license was presented by the chairman of the Provincial People’s Committee, Nguyen Van Cao, to the executive chairman of Banyan Tree Holdings, Ho Kwon Ping.
Laguna Lăng Cô is part of a chain of integrated resorts created and managed by Banyan Tree under the Laguna brand, and includes Laguna Bintan in Indonesia and the flagship Laguna Phuket in Thailand.
Laguna Lăng Cô’s Phase 1 development, with an investment of US$285 million, comprises both Banyan Tree and Angsana hotels, a 18-hole championship golf course designed by golf legend Sir Nick Faldo, luxury private villas and residences, convention facilities, recreational activities and beachfront land for six more hotels.
“With the commemoration of Laguna Lăng Cô’s 5th anniversary, the issuance of the casino license is a good start for our second phase” said Ho.
“Many hotel investors and development funds have been awaiting the casino license and the selection of a casino operator before finalising their investment into our Phase 2.”
This is the first casino license to be issued by the Vietnamese government in the past ten years.
Laguna Lăng Cô welcomes world class casino operators and investment partners to join in the next exciting phase and growth of its integrated resort development in Central Vietnam.
Known for its sustainable efforts towards the environment, the local community and the economy of Hue, Laguna Lăng Cô is the first luxury resort development of Banyan Tree Holdings in Vietnam and has received numerous international awards.
Existing infrastructure, including transportation, electrical, water and environmental management systems, will allow the rapid development of Phase 2 and future phases.
The project expansion from 2018 to 2022 will see an increased investment capital from USD$875 million to USD$2 billion and includes international-scale casino operations on its existing land.
Integrating a casino within the beach-golf resort which is in close proximity to three UNESCO Heritage Sites provides a unique culture, sporting and entertainment destination experience that will further boost tourism for the Thua Thien Hue region and attract global travellers.