According to several Asian news outlets, Vietnam’s Khanh Hoa Provincial People’s Committee recently tendered a proposal to the government in relation to a possible casino and recreation center in the Cam Lam district at the Northern Cam Ranh Peninsula Tourism Area. According to reports the proposal stated, “The recreational center would become an attractive destination for tourists as well as for local and foreign investors if it was approved.”
The proposal is comprised of a 37,000 square meter casino (398,000 sq ft) a five-star hotel, villas, resorts, green spaces, an 18,000 sq m marina, and other visitor amenities and resort facilities.
Reports indicate that the written proposal was based on a recommendation from the Hung Thinh Real Estate Business Investment Corporation, and that it fits with development plans for the province that have been approved by the Prime Minister.
Last year a draft decree was introduced that would allow Vietnamese citizens to play at home rather than travel to nearby venues taking their money with them. Gamblers would need to be at least 21 and show that they have the financial means to gamble, which may include an expensive entrance fee. Many analysts agree that if the flight of capital were curbed, millions if not billions in revenue could be recaptured by the state.
There are nearly 40 casinos operating in Vietnam with six major venues, including The Grand Ho Tram Strip and at least 10 clubs in Ho Chi Min City alone. A second casino resort is expected to open in the near future on the Strip in Ba Ria-Vung Tau province. At present, Vietnamese are not allowed to enter these establishments to gamble.
Several major casino companies have expressed interest in developing projects in the country, based on local participation and extensive licensing agreements. Others are moving ahead with proposals, either gambling on the decree becoming law or with a focus on VIP gamblers.