Las Vegas firm invests in Vietnam luxury resort
Published: 27/05/2011 05:00
Asian Coast Development Ltd., currently developing Vietnam’s first large-scale integrated resort, has entered an agreement to receive a US$95 million investment from Las Vegas-based Pinnacle Entertainment. The Canadian real estate company, also known as ACDL, is the developer of the Ho Tram Strip, a group of integrated resorts located on more than 400 acres of land in the southern province of Ba Ria-Vung Tau. With the agreement, Pinnacle has acquired a 26 percent interest in ACDL, marking its entry to the “rapidly growing Asian gaming market,” the casino operator said in a statement on Thursday. Pinnacle said it will enter into a management agreement through 2058, with the potential for a 20-year extension, for the second resort of the multi-phase construction plans for Ho Tram Strip. The Ho Tram Trip is located approximately 80 miles southeast of Ho Chi Minh City. The planned first resort of the beachfront project, MGM Grand Ho Tram, is under construction with a planned opening in 2013. It will be managed by MGM Hospitality, a subsidiary of MGM Resorts International. “This transaction is an important endorsement for Vietnam’s growing profile as a world-class tourism destination, and we look forward to opening the MGM Grand Ho Tram in 2013,” Gamal Aziz, President and CEO of MGM Hospitality Pinnacle said Ho Tram is “the ideal project” for Pinnacle Entertainment. “We are delighted to be a part of Vietnam’s strategic vision for the further development of its tourist industry, an investor in ACDL and a partner on the Ho Tram Strip project,” said Anthony Sanfilippo, President and Chief Executive Officer of Pinnacle Entertainment. “Featuring luxurious amenities in a breathtaking oceanfront location, the Ho Tram Strip is sure to attract guests from throughout Asia.” Source: Thanh Nien |
Provide by Vietnam Travel
Las Vegas firm invests in Vietnam luxury resort - Business - News | vietnam travel company
You can see more
- Vietnamese airlines plan to expand new international flights
- Kien Giang promotes tourist attraction
- Giant projects heat Phu Quoc Island’s property market
- AirAsia plans Vietnam venture on Southeast Asia travel boom
- Ho Chi Minh City targets tourism revenue of $5.3 billion
- Vietnam active in G20 senior official meeting in Germany
- Banks struggle to raise capital
- Vietnam Airlines inks tourism promotion deal, Hai Phong City
enews & updates
Sign up to receive breaking news as well as receive other site updates!
- This is a great way to allow guests to have a relaxed style of eating
- Selecting the ultimate pans and Asian woks for home kitchen
- 12 Days Cycling From Vietnam to Laos
- Why You Should Cycle To Cuc Phuong National Park?
- The places to come at night in Saigon
- Top 10 Must-see Sights In Hanoi, Vietnam
- The Most Wonderful Destinations In Sapa
- Best Cycling Tour Routes In Vietnam – One-of-a-kind Travel Experience
- Why should you join Ultimate Odyssey’s Hanoi countryside cycling tour?
- Cao Lầu – Hoi An style noodle with pork and greens
-
vietnam travel
http://www.vietnamtourism.org.vn " Vietnam Tourism: Vietnam Travel Guide, Culture, Travel, Entertainment, Guide, News, and...
-
Vietnam Tours
http://www.minmaxtravel.com/ " Customize & Book Vietnam tours, Cambodia tours and Laos tours with Travel Experts. Read...
-
Vietnam culture, culture travel
http://travel.org.vn " Vietnam culture
-
Halong Bay Vietnam
http://www.visithalongvietnam.com/ " Halong Bay Vietnam, visit halong vietnam, all cruise in Halong bay,
-
Vietnam travel, vietnam travel news, vietnam in photos
http://www.nccorp.vn " Vietnam travel, vietnam travel news, vietnam in photos
-
Vietnam tourism
http://www.vietnamtourism.org.vn " The official online information on culture, travel, entertainment, and including facts, maps,...