South Korea’s Kangwon Land Eyes Casino Project in Da Nang

Tuan Minh

10:49 10/11/2016

BizLIVE - South Korea’s Kangwon Land is looking to build an integrated resort and several entertainment facilities in Da Nang city.

South Korea’s Kangwon Land Eyes Casino Project in Da Nang

A hotel run by Kangwon Land. Photo: high1.com

Kangwon Land, among South Korea’s top casino and resort developers, is interested in carrying out high-end resorts, gaming and entertainment facilities in Vietnam’s central coastal city of Da Nang.
The firm’s Chairman Hahm Seung Heui made the statement at a recent meeting with Da Nang’s authorities, according to the city’s portal website danang.gov.vn.
Vice Chairman of the Da Nang People’s Committee Ho Ky Minh said Kangwon Land’s plan to build integrated resorts aligns with the city’s guideline to develop high-quality services.
Da Nang offers plenty room for international hotel operators to increase their presence as the city has seen a boom in the tourism industry, according to a recent report by real estate services firm Savills Vietnam, citing the city’s livability and beautiful nature.  
A number of foreign investors are seeking to develop casinos in Vietnam, betting that the government will soon lift the ban on non-foreign passport holders playing at casinos.
In April 2016, VinaCapital Group, Macau’s Suncity Group, and Hong Kong’s Chow Tai Fook Enterprises Ltd kicked off the construction of a new casino in the central province of Quang Nam, adjacent to Da Nang.
Vietnam will likely permit local residents to gamble in two casinos during a three-year trial as it is taking a prudent stance on developing the gambling business that is driving huge attention from foreign players, according to an industry watcher.

TUAN MINH