Asian Coast to develop $4.2bn casino in Vietnam
22nd May, 2008
Asian Coast Development Ltd has announced that it plans to invest billions of dollars into a new casino located in south Vietnam.
The Canadian company will put US$4.2 billion into the casino and beach resort on the Ho Tram Strip project in southern Ba Ria Vung Tau province.
It intends to build a casino, golf course and two luxury hotels with over 2,000 rooms in the complex. The site will cover 169 hectares.
Asian Coast said that the project had been approved by the Vietnamese government, which does not allow national citizens to enjoy casino gambling but does permit foreigners to do so.
In a statement on the Ho Tram Strip's official site, the company said: "Designed by renowned Las Vegas architect Paul Steelman, Project 1 is being developed by Asian Coast Development.
"Themed on the concept of environmental preservation and conservation, Project I of the Ho Tram Strip will resemble a wildlife preserve, highlighting the lush natural beauty of the area while showcasing Vietnamese and Asian culture."
Asian Coast is hoping to get the resort completely operational in the next decade, with the first phase of the project complete by 2011.
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