Provincial authorities in Thua Thien Hue have petitioned the central government to increase the investment capital threshold for the Lang Co Laguna beach resort to $2bn and to allow the project to include a casino.
The $2bn figure is necessary to qualify for a casino resort to be considered eligible, under the terms of a government decree issued in January, to take part in a three-year trial which would allow venues to host local gamblers.
According to a report in Vietnambiz, the Thua Thien Hue Provincial People’s Committee is looking to partner with Hard Rock International for the hotel and casino operations.Under the plan, the casino is expected to be implemented in the second, third and fourth phases of the project, with capital of nearly $250m on a 2.6 hectare area.
The project is estimated to contribute $245m annually to the local budget from 2021 if it is approved. The resort’s $200m first phase became operational in 2013, and included the 57-villa Banyan Tree resort, a 229-room hotel under the Angsana brand, and an 18-hole golf course and conference centre.
Local media report suggest that the Ministries of Defence and of Culture, Sports, and Tourism have already given their approval for Banyan Tree Lang Co’s casino proposal