Việt Nam
Khanh Hoa proposes casino licensing in Hon Tre
Khanh Hoa province has proposed casino licensing on Hon Tre island, Vinh Nguyen ward, Nha Trang city. If passed by the Ministry of Politics and the Prime Minister, there will be two casinos in the province.
Cable car crossing the sea to Hon Tre island – where the proposed second billion-dollar casino is located in Khanh Hoa – Photo: T.V
According to the proposal of Khanh Hoa province, the Ministry of Finance has reported to the Prime Minister the policy of investing in a general service, tourism and entertainment area with casino in Hon Tre island (Hon Tre casino), Vinh Nguyen ward, Nha Trang city.
Hon Tre Casino has an investment capital of about VND 50,000 billion (USD 2.24 billion), of which the investor's capital – Vinpearl Joint Stock Company is about VND 7,500 billion (15% of the total capital), 85% of the project investment capital is mobilized from other legal channels.
Also according to the investor's proposal, Hon Tre casino is a complex of seven projects under development on Hon Tre island that are expanded and supplemented casino business.
If this proposal is passed, Khanh Hoa province will have two billion-dollar casinos, which are Hon Tre casino and Cam Ranh casino which the Prime Minister agreed to invest in August 2019. Cam Ranh Casino is invested by KN Cam Ranh Co., Ltd. in Bai Dai area, Cam Ranh city, with a capital size of VND 46,371 billion.
The Ministry of Finance defines casinos as conditional business, under the strict control of state agencies, so it is necessary to assess the impact, impact and contribution of casinos to the development of services, tourism and local socio-economic development. Moreover, the second billion-dollar casino licensing issue in Khanh Hoa province must be consulted by the Ministry of Politics before deciding.
Therefore, the Ministry of Finance suggested khanh Hoa province to carefully assess the positive and negative impacts on the economy, environment and society, impacting national security in the context of two large-scale casinos licensed for investment.
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