Vietnam | Ho Tram Strip to break ground
This is really big news. It means the Vietnam casino boom that has been discussed is finally taking shape. The developer of the Ho Tram Strip casino resort, Asian Coast Development, has been given the green light by the Vietnamese government and is scheduled to break ground on the resort this Saturday.
Phase I of the Ho Tram Strip will cost $4.2 billion and will consist of two hotel towers with a combined 2,300 rooms, a 500 slot machine 90 table casino, golf course and im sure all the bells and whistles of a $4 billion resort. Ho Tram is an upcoming beach resort with white sandy beaches, and i located in the Ba Ria Vung Tau province of Vietnam about 80 miles from Ho Chi Minh City. The project is scheduled to break ground in the second half of 2008 with a completion in 2011.
Not to spoil the party, but with the global credit markets in turmoil, one needs to ask if the company has financing in place. I have seen no mention of this issue in the press.
And the company appears to be in good hands, with a lineup of Las Vegas bigwigs Paul Steelman, Jeffrey Stoffer of Turnberry and Fontainebleau, and Glenn Schaeffer of Fontainebleau and Mandalay Bay Resorts fame. The developer Asian Coast Development and the Ho Tram Strip both have websites up and running with videos, pictures and the like.
Im really excited about this one.
May 22nd, 2008 at 4:47 am
[…] What seems like a long time ago (May ‘07), I wrote about the multi-billion dollar Ho Tram Strip casino project in Vietnam that was being planned. Since then, there has been several more multi billion dollar casino resort projects discussed in Vietnam. By most measures, Vietnam is about to experience a casino boom, not unlike Macau, but on a smaller scale. So I want to bring to everyone’s attention that the boom appears to be officially underway. Asian Coast Development has announced that their $4 billion phase I Ho Tram Strip project was OK’d by the government and will break ground this Saturday. You can read the full story at my other website. […]