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Thua Thien Hue seeks to open casino

The provincial committee of Thua Thien-Hue is asking the government’s permission to increase the investment capital of the  Laguna Lang Co project to US$2 billion, as well as to open a casino in the complex, Vietnam News reports.

If approved, the project is estimated to contribute $245 million annually to the local budget from 2021. It is understood that the Ministry of Defence and the Ministry of Culture, Sports and Tourism have already approved the plan.

Under the plan, the casino is expected to be implemented in the second, third and fourth phases of the project, with capital of nearly $250 million on a 2.6 hectare area.

The Laguna Lang Co project received an investment certificate from the management board of the Chan May-Lang Co Economic Zone in 2007, which was modified in June 2014.

The project has registered capital of $875 million and is spread over 280 hectares.

It is designed to serve 400,000 visitors each year, and includes resorts, spas, hotels and restaurants, retail shops, golf courses and villas.

More news from this jurisdiction

VietnamWednesday, Jan 03, 2018

Prime Minister Nguyen Xuan Phuc has agreed in principal to allow a casino to be added to the Laguna Lang Co. resort in central Vietnam, with a likely 2021 opening date, local media reports.

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The Ho Tram Project Company said it had begun construction work on the next phase of the $4.2 billion Grand Ho Tram IR project in Vietnam, breaking ground for the Kahuna Ho Tram Strip Condotel and Villa Development.

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Suncity Group Holdings has received shareholder approval for its acquisition of a 34 percent stake in the US$4 billion integrated resort project located in Hoi An, Vietnam.

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VietnamWednesday, Oct 11, 2017

The chief executive officer of state-owned lottery company, Vietnam Lottery Co. Ltd. (Vietlott) resigned earlier this month, according to an announcement from the Ministry of Finance.

VietnamMonday, Sep 25, 2017

Suncity Group Holdings on Friday announced that it has entered into a Technical Services Agreement with the developer of the integrated resort in the Quang Ninh Province in Vietnam.

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Commercial banks will be allowed to trade and provide foreign exchange services related to casinos from October.