Singapore group plans $1.2 billion casino for Myanmar

Singapore’s Zochwell Group is planning to build a $1.2 billion resort on Myanmar’s Myeik Archipelago, which will feature a high-end marina, luxury hotels, a theme park and a casino, according to the Myanmar Times.

The group will sign a Build, Operate, Transfer (BOT) contract with the Tanintharyi Region Government next month.

The Myeik Archipelago is a group of more than 800 islands in the Andaman Sea, off the southern tip of Myanmar. The islands are home to the Moken, or “sea gypsies” and are almost untouched by tourism.

According to the article, chief commercial officer Gareth Chin has been looking for business opportunities in the country since 2012 and has been negotiating a compensation package with farmers, who were planting crops on the land.

Zochwell will rent the island under standard BOT terms of 50 years, with an option to extend the contract twice, by 10 years each time, Chin told the newspaper.

However, the article also cited U Hlwan Moe, assistant director of the Ministry of Hotels and Tourism in Myeik, as saying he did not know about the project.

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