Month: November 2023
Việt Nam
$4B Ho Tram casino developer seeks postponement again
Inside Ho Tram casino. Photo courtesy of the casino
The developer of the US$4.23-billion Ho Tram casino and resort complex in southern Vietnam has sought to postpone its completion to 2027, the 11th time it is delaying it.
Ho Tram Project Company Ltd received a permit in 2008 to build a casino, a five-star hotel with 9,000 rooms, an 18-hole golf course, villas, and a shopping area. The casino and the golf course are now open.
As of June the developer has spent $1.3 billion, or 30.9% of the cost, according to the Ministry of Planning and Investment.
The company has delayed the project citing the effects of Covid-19, inadequate transport infrastructure between Ho Chi Minh City and Ba Ria – Vung Tau Province, where it is being developed, and bureaucracy.
Ho Tram Project Company has said that if the number of hotel rooms is less than 9,000 by the fourth quarter of 2027, it will reduce the number of casino tables to less than two per 100 rooms.
Source: E.VnExpress
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