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!
- Hanoi ranked top 3 cuisine in the world in 2023
- Beautiful resorts for a weekend escape close to Hanoi
- Travel trends in 2023
- In the spring, Moc Chau is covered in plum blossoms.
- The Most Wonderful Destinations In Sapa
- Top 3 Special festivals in Vietnam during Tet holiday - 2023
- 5 tourist hotspots expected to see a spike in visitors during Lunar New Year 2023
- How To Make Kitchen Cleaned
- Health benefits of lime
- Cooperation expanding between Havard University and Vietnamese universities
-
vietnam travel
http://www.vietnamtourism.org.vn " Vietnam Tourism: Vietnam Travel Guide, Culture, Travel, Entertainment, Guide, News, and...
-
Vietnam culture, culture travel
http://travel.org.vn " Vietnam culture
-
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,...
-
Vietnam Travel and Tourism
http://www.vietnamtourism.org.vn/ " Vietnam Travel, Entertainment, People, Agents, Company, Vietnam Tourism information.
-
Information travel online
http://www.travellive.org "Information travel online