Vietnam | Asian Coast Development IPO
Dont get too excited, they havent launched an IPO yet. It sounds like it could still be a few years away, or whenever gaming companies fall back in favor of investors.
I am talking about an article at Bloomberg that is a follow-up to the Asian Coast Development video I posted yesterday. I am a little confused on one aspect of this Ho Tram Strip development though. The company talks about finishing the project in 2010, but I am not clear if they have all the financing lined up yet. It does look like they have one big investor, Harbinger Capital, that could provide capital, but Ive never seen anything saying they have all the capital they need.
“We’re looking toward the Hong Kong stock exchange in the next two years,” said Aymong. “The people of Hong Kong know the casino industry because of Macau and they have seen the economic growth of the region and understand it.” The share sale may take place in the next two years, he said.
One more interesting tidbit from the article…
Asian Coast is also seeking to invest in distressed gambling assets and is looking at two opportunities in Las Vegas, he said, declining to identify them.