Officials in the Vietnam province of Thua Thien-Hue have asked for the central government’s permission to add a casino to the Lang Co Laguna beach resort, VietNam News reported.
The figure of $2bn is the qualifying spend required for a Vietnam casino resort to be considered eligible, so the Thua Thien-Hue Provincial People’s Committee (PPC) have asked to increase the investment capital in order to be pave the way for a new casino in the complex.
The resort will thus seek to become part of the recently introduced pilot plan in the country, under which the government will allow certain Vietnamese casinos to admit local players into their facilities. Currently, Vietnamese nationals are prohibited from playing at local casinos.
Under the plan, the casino business is expected to be implemented in the second, third and fourth phases of the project, with capital of nearly $250 million.
The project is estimated to contribute $245 million annually to the local budget from 2021 if it is approved.
Reportedly, Hard Rock International has lodged interest in operating the gambling venue. The company has recently walked out of a joint venture with Hong Kong’s Melco International Development for the construction of a casino resort in the Republic of Cyprus and became the sole candidate for a property of this type in Spain.