With a US$4.5 billion budget in its treasure chest, Canadian developer Asian Coast Development Ltd. is planning to develop Vietnam’s very first casino resort.
Dubbed the Ho Tram Strip complex, the casino resort project will call for construction of an undeveloped 432 acre stretch of beach and forest in Xujen Moc, Ba Ria-Vung Tau province some two hours away by car from Ho Chi Minh City.
Asian Coast Chairman Michael Aymong said that the project is scheduled for completion by 2011 with the intial phase to have a couple of hotels offering 2,300 rooms. The Canadian developer hopes to increase room capacity to about 10,000 by 2015 along with additional facilities.
Part of the Asian Coast project will involve the firm investing in the building of infrastructure which includes an airport, a ferry terminal and highways.
It is reported by Asian Coast, who received their casino license last March 2008, that the project is already attracting investor interest.
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