Casino at Vietnam’s The Grand Ho Tram officially opens to local players – IAG

Casino at Vietnam’s The Grand Ho Tram officially opens to local players

Vietnam’s The Grand Ho Tram has welcomed its first local casino guests after officially opening its gaming floor to locals on Monday.

The casino began welcoming local guests around midday, sources confirmed to IAG, with the transition from a foreigner-only operation coming just over a month after Ho Tram received locals approval from the central government.

It is now one of two casinos in Vietnam open to local players, the other being Corona Resort & Casino in Phu Quoc. A third property currently being developed in Van Don has also been granted approval to allow locals gambling under a similar 5-year pilot program to Ho Tram although the Van Don project is not expected to open until 2032.

IAG understands that all gaming tables and slot machines on the main gaming floor of Ho Tram were available for locals use as of midday Monday.

Locals gaming has been a long time coming to the property, located around two hours by car from Ho Chi Minh City.

First opened in 2013 with an initial investment cost of US$500 million, US hedge fund giant Harbinger Capital sold off its majority interest in The Grand Ho Tram’s parent company, Asian Coast Development Ltd (ACDL), to private equity giant Warburg Pincus in July 2019.

Warburg Pincus subsequently inserted a new management team in early 2020, led by Macau industry veteran Walt Power.

Once fully developed out, The Grand Ho Tram is planned to be a US$4.2 billion integrated resort 9,000 hotel rooms, an 18-hole golf course, villas and expansive retail options. The casino – until now foreigner-only – plus the golf course and some hotel rooms have been operational since opening.

As reported by IAG, the property recently broke ground on a US$1 billion, 35-hectare expansion that will, when complete, add a new five-star hotel complex, luxury resort villas, entertainment amenities and an international convention and exhibition center to its existing offering.

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Tags: casino locals casino The Grand Ho Tram Vietnam Walt Power