Gaming | Vietnam: Van Don casino-resort to be licensed soon, Macau investors may be interested

The selection of investors for the Van Don airport and an integrated casino and resort complex in the northern province of Quang Ninh is nearing its conclusion, as the local people’s committee will shortly make a final decision to allow the construction of both landmark projects in April, the Vietnam Investment Review (VIR) reported yesterday.
“We haven’t decided who will be the investor in those projects. But whoever is chosen will have to start construction in April,” said Nguyen Van Doc, Chairman of the Quang Ninh Provincial People’s Committee (quoted by VIR) indicating that permission to develop the projects would need to be agreed upon by March.
The Van Don airport would “play a vital role in bolstering the zone’s investment in climate and tourism development” as Quang Ninh is also home to the World Natural Heritage site of Ha Long Bay. “While the airport is a crucial infrastructure project, the integrated casino and resort complex is apparently supposed to be attractive to tourists,” the report stated.
South Korea’s Joinus Company Ltd has continuously expressed interest in investing into Van Don airport, while the integrated casino and resort complex appears to have attracted several interested parties, particularly following the Vietnamese government’s indication that it may change the law to allow local citizens to enter casinos.
According to VIR, Las Vegas Sands, Phoenix Macau Tailoi and Casinos Austria have all visited the province and studied the investment opportunities. Vietnam’s Tuan Chau Group, in association with Australia’s ISC Corporation, is among the most active investors, having submitted a specific plan including a USD7 billion commitment to developing the project.
In its latest report, the Quang Ninh Provincial Economic Zone Management Authority revealed that domestic Sun Group, owner of luxury resorts in Danang, also submitted a plan for investing in both the airport and the integrated casino and resort complex. PC