As Vietnamese authorities continue to debate reducing gambling restrictions on locals, the long-stalled $4 billion casino project appears to be back on track with a US investor recently taking over the project, according to Thanh Nien.
The 1,540 hectare South Hoi An casino was approved back in 2010 but was delayed when its Malaysian investor divested from the project in 2012.
VinaCapital recently announced that they had taken on a new investor for the project, US-based Pacific Peninsula Group, which provides design-through-construction services.
Along with a new investor, there have been changes to the scope of the project - its total area has been reduced from 1,540 hectares to 1,000, the number of gambling tables was increased by 20 to 90 and it will now include a golf course.
The project’s 500 room hotel is scheduled to open in 2015.
Since many casino investors have said that the viablily of their projects hinge on Vietnamese being allowed to gamble, it will be interesting to see if the laws are loosened by the time South Hoi An casino opens its doors.
[Thanh Nien //Photo via Thomas Hawk]
