Vietnam is one of the rapidly developing gambling markets on a global scale since it is located in the vicinity of major gambling hubs to the likings of Singapore and Macau. The casino industry’s development and seek for new offerings will be further boosted by the new casino license received by Banyan Tree Holdings which is expected to result in a brand new casino venue which is going to be located in the Laguna Lăng Cô integrated resort and is going to welcome its first guests in 2022.
This week will be remembered as an iconic one since it witnessed the first casino license being issued in the last 10 years in Vietnam. With this big move, the gambling field is making sure it is well on its path to development and new and exciting offerings are on their way. The new casino facility located in the integrated resort is expected to be a significant economic boost for the region and attract many new tourists to the country which could, in turn, give their luck a try at the superior casino venue.
There is also the opportunity for high rollers to travel to the new location and provide the Laguna Lăng Cô with a considerable revenue boost. As for the location where the gaming license was officially issued, that was the annual Vietnam-Singapore Business Forum which took place in Singapore, another casino hub with a large potential and stable gambling revenues reported. The said license for gambling operation which was the first one to be issued over the span of the last decade.
Bright Future for the Integrated Resort
The official who presented it was Nguyen Van Cao, who is the Chairman of the Provincial People’s Committee. At the ceremony, the new license was received by the Executive Chairman of Banyan Tree Holdings Ho Kwon Ping as this is the Singapore-based casino operator who will oversee the entire process.
This international hospitality brand manages and develops resorts, hotels, and spas in Asia, America, Africa and the Middle East and was first established back in 1994. With the help of this future gambling facility which will provide the guests of the integrated resort with more entertainment offerings, the entire project will move on to its next phase of development. This second one has the potential to amass more revenue to its casino operator and attract more customers.
It could be recalled that the resorts witnessed its official launch some five years ago and the entire project has cost $285 million up to this point. Within its boundaries, there is a wide variety of offerings to the likings of Banyan Tree and Angsana hotels, an 18-hole championship golf course designed by Nick Faldo, luxury private villas and residences, convention facilities, as well as recreational activities. As for this second phase of the project, it is expected to bring a surge in the capital from $875 million to $2 billion, as well as a four-year development period for the new venue.