Vietnam: Banyan Tree gets casino licence
The first casino licence in 10 years has been awarded in Vietnam to integrated resorts chain Laguna Lăng Cô, owned by Banyan Tree.
Vietnam.- Laguna Lăng Cô, an integrated resort created and operated by Banyan Tree has received a casino licence in Vietnam. It was presented by the chairman of the Provincial People’s Committee, Nguyen Van Cao, to the executive chairman of Banyan Tree Holdings, Ho Kwon Ping, at the Vietnam-Singapore Business Forum 2018 in Singapore.
The brand has a US$285 million investment and is undergoing Phase 1 development, with the Banyan Tree and Angsana hotels, an 18-hole championship golf course, luxury private villas and residences, convention facilities, recreational activities and beachfront land for six more hotels.“With the commemoration of Laguna Lăng Cô’s 5th anniversary, the issuance of the casino licence is a good start for our second phase” said Ho and added: “Many hotel investors and development funds have been awaiting the casino licence and the selection of a casino operator before finalising their investment into our Phase 2.”
After scoring the first licence in the country in 10 years, Laguna has called top international casino operators to join in and work with it in its integrated resort development in Central Vietnam. The project expansion from 2018 to 2022 is set to have its investment capital increased from US$875 million to US$2 billion and includes international-scale casino operations on its existing land.
