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Vietnam’s Grand Ho Tram casino and resort to be completed by 2027

November 20, 2023 Vietnam Casino & HotelIndustry Updates

As to the local media site VNExpress, the Grand Ho Tram casino and resort complex in Vietnam, which first started operations in 2013, is now anticipated to be completed by late 2027.

The integrated resort project has seen many problems despite an initial $500 million investment and ongoing investments totaling $1.3 billion. The project is aimed at becoming a $4.2 billion complex.

When the project is complete, it will include an 18-hole golf course, 9,000 hotel rooms, villas, a casino, and sizable retail spaces. Even though the casino, golf course, and a few hotel rooms have been operational since the first opening, a number of factors, such as the impact of COVID-19, inadequate infrastructure, and administrative obstacles, have caused the full completion to be delayed.

The pandemic, inadequate infrastructure connecting the area to Ho Chi Minh City, and administrative roadblocks were among the issues mentioned by the project’s developer, Ho Tram Project Company Ltd, as to why the project is now behind schedule.

Asian Coast Development Ltd. (ACDL), the parent company of The Grand Ho Tram, was finally sold to US private equity firm Warburg Pincus in 2019. The initial $500 million was funded by US hedge fund giant Harbinger Capital. Although there had been earlier expectations that the property would be permitted to accept local players, the current management team has adjusted their marketing strategy to focus on the Ho Chi Minh City expat community.

According to Walt Power, CEO of Grand Ho Tram, the resort is considering event-driven strategies to draw visitors from Ho Chi Minh City and overseas. These strategies include professional boxing, mixed martial arts competitions, VIP dinners tied to the casino, fashion displays, and beauty pageants.

Related Article About: Vietnam’s Grand Ho Tram Casino

Original story by: IAG

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