The promoter of KN Paradise Cam Ranh beach resort, a tourism project in Vietnam’s Khanh Hoa province, announced on 25 February that the Vietnamese government has issued an investment certificate allowing for the creation of a “large-scale casino complex” as part of the overall development.
The project is promoted by Vietnam- based real estate investor and developer KN Cam Ranh Co Ltd. The company has stated that it is now looking to partner with an international casino operator.
“It is with great enthusiasm that we are adequately ready to cooperate with the international casino gaming operators for the development and operation of our integrated resort in Cam Ranh,” said the firm in a statement. “Undeniably, our strategic location and development plan will create an indispensable addition to the Pan-Asia integrated resort marketplace.”
The company has been granted permission to develop a 16.2 hectare (40 acre) casino complex, offering 200 gaming tables and 2,000 electronic gaming machines.
The government stipulates a minimum capital commitment of $2bn for investment in major casino projects, while at least $1bn must be invested before a casino is permitted to open.
The master plan for KN Paradise Cam Ranh includes a golf course, multiple 4 and 5 star hotels, residences, a shopping and duty-free centre, MICE facilities, a marina and water and theme parks.
The resort is located within a five minute drive from the Cam Ranh International Airport and 30 minute drive from Nha Trang City.