The Laguna Lăng Cô integrated resort in central Vietnam is expected to have a casino by 2022, after being awarded the first casino licence to be issued by the Vietnamese government in 10 years.
At the recent Vietnam-Singapore Business Forum 2018 in Singapore presided by the Vietnamese prime minister Nguyen Xuan Phuc, the license was presented by chairman of the Provincial People’s Committee Nguyen Van Cao to executive chairman of Banyan Tree Holdings Ho Kwon Ping.
This license issuance kicks off the second phase of development at the Banyan Tree-operated resort. 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 (the property’s second phase).”
The five-year-old property is undergoing an expansion from 2018 to 2022, expected to see investment capital increase from US$875 million to US$2 billion.
Laguna Lăng Cô’s first phase of development, with an investment value of US$285 million, comprises both Banyan Tree and Angsana hotels, a 18-hole championship golf course designed by Nick Faldo, luxury private villas and residences, convention facilities, recreational activities and beachfront land for six more hotels, part of a 280ha project.