Laguna Lang Co Resort Receives Approval to Develop Casino Operations

Laguna Lang Co Resort Receives Approval to Develop Casino Operations
January 16 12:38 2018

Laguna Lang Co, a major resort near Hue, has received approval by the Vietnamese government to add a casino to its operations. Vietnamese Prime Minister Nguyen Xuan Phuc has said that he “agreed in principle” with the proposal to add a casino business to Laguna Lang Co.

Laguna Lang Co is a 280-hectare resort that was open on March 2013 near Lang Co bay in central Thua Thien-Hue Province. The government approval will allow the resort to increase its investment from $875 million USD to $2 billion USD, the capital amount for casino developers in Vietnam.

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The resort is run by Singapore’s Banyan Tree Holdings, a leader in hotels, resorts, and luxury apartments in the Asia-Pacific region. Banyan Tree said that once it receives the official license, the company will work with its U.S. partner to develop a detailed plan and development timeline, and that it expects to launch casino operations in 2021.

Laguna Lang Co is framed by a three-kilometer beach in the Chan May region overlooking the East Sea, an area renowned for its pristine coastline, natural scenery and proximity to UNESCO World Heritage Sites. The development includes the Angsana and Banyan Tree hotels and spas as well as private residences and villas as well as an 18-hole golf course that was designed by Nick Faldo,

The expansion plan for the resort calls for the development of new 5-star hotels and more than 2,200 apartments and villas as well as casino and gambling operations. Casino operations will begin in 2021 with 500 electronic gambling machines and 50 card shufflers and are expected to expand to 2,000 machines and 200 card shufflers by 2030.

Once casino operations begin in 2021, the Thua Thien-Hue Province is expected to receive $20 million USD a month in new revenues and the province revenues will increase to more than $60 million USD per month by 2030.

The government approval of the Laguna Lang Co casino operations follows its decision in 2017 to allow Vietnamese citizens 21 years of age and older, who make a monthly income of $450 USD (10 million VND) to gamble in local casinos.

As a result of the government decision to allow Vietnamese to gamble and in order to spur the growth of both domestic and international tourism, the government has also approved new casino operations in the northern province of Quang Ninh and in the southern resort island of Phu Quoc.

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