Vietnam’s casino industry is growing and a number of luxury hotels are in the process of expanding their services to provide casino related services. One such hotel is the Laguna Lăng Cô beach resort which is located in the Thua Thien-Hue province. The beach resort was opened back in April 2013 and became the first resort in Vietnam to offer a Banyan Tree Hotel. The resort is now known to the public as the Banyan Tree Lăng Cô.
The Singapore based Banyan Tree Holdings Ltd is the owner of the Banyan Tree brand and is looking to build an entertainment project that will be integrated with the resort. The new project will house a gaming complex that would offer a number of casino games and services. The company confirmed that it had sent out a request for concept (RFC) to find suitable partners who will help in the construction and running of this gaming complex.
Banyan Tree Capital (BTC) which is a part of the Banyan Group and responsible for all investment projects will head and manage the search for the RFC provider. BTC went through a list of vendors before deciding to hire Global Market Advisors LLC who will serve as the Banyan’s key procurement advisors. The Banyan has confirmed that once it finds a suitable partner to run its gambling facilities, it will give them 100% ownership and not be involved in the management or operations of the project.
In a statement, Steve Small, managing director of Banyan Tree Capital said, “This RFC process is to identify quality companies who can and will operate the casino. The master plan is currently under consideration to be awarded a gaming licence and we believe that experienced operators will be interested in the potential of integrated entertainment facilities and support the government’s aim to boost Vietnam’s tourism competitiveness. We are seeking facilities and strategies that are focused on attracting foreign tourists from greater Asia, with a particular focus on inbound tourists from China and greater Asia.”
Vietnam currently has a gambling law in place that allows only tourists to gamble at casinos. These casinos have done well over the last year as they have successfully managed to attract VIP gamblers from Mainland China who no longer want to go to Macau and gamble. The government of Vietnam is currently considering changing its laws and allowing locals to gamble as it would result in a bigger customer base and encourage more foreign investment into Vietnam.
Qualified, interested parties are welcome to participate in the RFC process by accessing the following link: http://lcmp-rfc.com/