Vinpearl proposes US$2.2 billion IR on Vietnam’s Hon Trey island

Hon Trey Island

Hospitality firm Vinpearl Co. is proposing the construction of a new VND50 trillion (US$2.2 billion) IR on Vietnam’s Hon Trey island.

This new resort would initially include a casino, a five-star 1,200 room hotel, a convention center, and a transportation system that may include cable cars and waterways. The casino would have about 200 gaming tables and 2,000 electronic gaming machines.

The project would open in two phases, with the casino opening first in 2024 and the hotel and other non-gaming facilities opening the following year.

Vinpearl plans to put up about 15 percent of the investment capital itself and raise the rest of the funds from other sources.

Authorities in Khanh Hoa Province are seeking approval from the country’s top leadership to move forward with the project.

If approved, this casino would be the second in the Khanh Hoa Province, along Vietnam’s south central coast, with another in Cam Ranh scheduled to open a year earlier in 2023.

Michael Penn is a journalist and scholar based in Tokyo, Japan. As a journalist, he both writes print news articles and produces news videos. On the video side, he has several years of experience doing it all by himself: reporting the stories, shooting the video, and editing the packages. As a scholar, the bulk of his past publications have been about Japan's modern relations with the Islamic world.