A beach in Haiphong, Vietnam
One of the largest real estate firms in Vietnam has announced plans to construct a mega-casino resort in Haiphong. The resort island project will cater exclusively to tourists visiting Haiphong as locals are not permitted to gamble in casinos.
Vingroup pledged to invest USD870 million in the casino-
resort , vowing also to create thousands of part-time construction jobs and thousands of full-time jobs once the casino-resort goes live. The project’s construction is expected to commence this year and to be completed in 2020. Vingroup didn’t confirm if it will be the sole investor of the project, or whether it will collaborate with other financial investors in order to raise funds for the project.
According to media reports, casino operators in Vietnam are making elaborate plans preparing to accommodate VIP gamblers from mainland China, as those players have lately avoided Macau amid president Xi Jinping’s anti-graft campaign.
The planned mega casino-resort in Haip-
hong is one of the venues looking to attract these VIP gamblers. The project will be constructed on 872 hectares and will include a 36-hole golf course that is expected to open before the end of 2016. The casino-resort will also have an amusement park, 1,116 ecological villas and a high-end cable system that will link the mainland to Vu Yen Island.
Vingroup has taken on a number of large projects, including the Vinpearl Luxury Da Dang, the Vinpearl Nha Trang, the Vinhomes Central Park and the Phu Quoc and Hai Phong resorts. The Vingroup was founded by Vietnamese tycoon Pham Nhat Vuong.
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