A new prime casino is set to be constructed in Vietnam soon, according to reliable source. The KN Paradise Cam Rahn beach resort in Vietnam is planning on building a new gaming venue in Cam Rahn, Vietnam. The gaming operator has already received the necessary approval to proceed with the project. All that remains is a few investors who will be willing to chip in and help foot the cost of the project.
On Tuesday, KM Cam Rahn Company Limited, the promoter of the new casino-resort, announced that the government had finally issued an investment certificate for the proposed project, a crucial step in the process. Given the estimated size of the project, the investment expected to be high. Besides, Vietnam laws state that any investor planning to build a casino in the country should be ready to spend not less than $2 billion, with $1 billion being already in hand before commencement of the project.
The new resort-casino will be located about 5 minutes from the Cam Rahn International Airport and is set to be one of the best, if not the best in the industry. It is expected to be a world class destination for tourists from around the globe.
Its construction will begin next year and the first phase is expected to be done in about three years. According to a comprehensive news article in one gaming website, the CalvinAyre.com, the venue will rest on a 40 acre piece of land and will be home to at least 2,000 gaming machines and 200 gaming tables.
In addition to that, there will be a variety of residential and hotel options to choose from as well as entertainment facilities including amusement parks and shopping centers. As in, basically the upcoming casino will not only be a modern facility, but will also be all to go zone as far as entertainment and gambling matters.
The firm behind the project now wants investors to come in and help cover the costs of the project. It has not yet indicated how much of its money it is willing to spend on the project. Even if KM Cam Rahn Co. would be able to fund the project on its own, it is unlikely that it would offer to do so.
One of the directors in the company, who was not mentioned by name, said that they are seeking to partner with an internationally recognized gaming operator to ensure the success of the project. Given the strategic location of the proposed project, they will attract lots of customers and grow to be one of the best in the Pan-Asia gaming and hospitality industry. All they seek for is a willing gaming operator to partner with.
So far, the firm has no company in mind, but it is open to receiving applications. Already, the area has a golf club that specializes in Greg Norman as well as the Wyndham Grand KN Greg Paradise Cam Rahn Hotel that has been accommodating guests since last year.