Vietnam | MGM Grand Ho Tram Strip
Tuesday, November 18th, 2008MGM MIRAGE Hospitality and Asian Coast Development Ltd. Announce Plans to Develop MGM Grand Ho Tram Integrated Resort in Vietnam.
Collaborative project to be owned and financed by Asian Coast Development and Managed by MGM MIRAGE
MGM MIRAGE (NYSE: MGM) and Asian Coast Development Ltd. (ACDL) today announced plans to develop the MGM Grand Ho Tram — Vietnam’s first “Las Vegas style” integrated resort. ACDL will own and finance the project, and MGM MIRAGE will provide development assistance, brand equity and operate the five-star integrated resort property upon completion.
MGM Grand Ho Tram will anchor the $4.2 billion multi-property Ho Tram Strip resort complex being developed by ACDL along the pristine beaches of the South China Sea. The Ho Tram Strip is set on a 2.2 kilometer strip of white sand located in the Ba Ria Vung Tau Province of southwest Vietnam, eighty miles from Ho Chi Minh City. MGM Grand Ho Tram will be the first component of what is planned to be the largest tourism complex in Vietnam. MGM Grand Ho Tram itself will feature 1,100 rooms, a world-class gaming and entertainment facility, luxury retail, chef-driven restaurants, high-tech meeting space, live entertainment stages, stunning nightlife, destination spa services, and an exclusive VIP area, as well as a variety of beach-front recreation activities. (more…)
