Global Casino BOOM

You never know what to make of these announcements that some company you never heard of is developing a multi-billion dollar casino resort. This time its a company called Pearl of Asia, which is a subsidiary of Trustee Suisse, that wants to build a big casino complex on Phu Quoc Island, Vietnam. The size - US $9 billion.

The complex, which will cover 3,200 hectares, will be realised in two stages with total investment of six billion euro, or more than US$9bil, the company said. “Initially, 275 hectares will be developed at a cost of an estimated two billion euro,” the company said.

Reading through the article, it sounds like the company has received all necessary approvals.

Director of Kien Giang Province’s Department of Culture, Sport and Tourism Le Minh Hoang told the Daily that the investor had submitted the plan to the provincial government, and has won approval in principle.

“The provincial government has agreed in principle, and also allowed the investor to make a detailed scheme for the complex,” he told the Daily via the phone on Tuesday.

If this is actually the case, this is huge news. Hopefully we’ll see more details soon.

This entry was posted on Thursday, April 17th, 2008 at 9:19 pm and is filed under Phu Quoc, VIETNAM CASINOS. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.