Vietnam casino benefited by Macau VIP market downturn

Text 2  2 GHTS_01_3When introducing the Grand Ho Tram Strip project, Chris Wieners described it as a five-star beachfront resort with 500 rooms. A second tower will be built in the upcoming year and the number of rooms will be doubled.
In terms of customer demographics, Wieners said that the majority of the resort’s customers are from mainland China and Korea. “They also see a major opportunity with the current downturn in the VIP market in Macau: the opportunity to start growing that market in Vietnam. So a big target for them is to start looking at China, as well as the junket organizations and the VIP market here in Macau, and attract them to Ho Tram,” he said.
Wieners said that the Vietnamese project is now facing two issues: the fact that the brand is not well known and the hotel’s distance from major cities. In light of the second issue, Wieners said that the authorities are currently constructing a national freeway to shorten the travelling time. He also mentioned that the Vietnamese government forbids locals from gambling, which presents an additional problem.  However, it has announced plans to roll out a new regime to allow local Vietnamese to gamble in the country, which he reckons will be a game changer.

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