Canada Casino Group Planning $4.2bill Project in Vietnam

Vietnam has given the go-ahead for a Canada-based casino and resort group to build a 4.2-billion-dollar tourism complex in a southern beach area near Ho Chi Minh City, the government said Thursday.

Asian Coast Development (Canada) Ltd., or ACDL Group, has received the green light for the project in the seaside province of Ba Ria-Vung Tau, east of Vietnam's largest city and port, formerly called Saigon. ACDL Group says on its website that it plans to develop "a five-star coastal paradise consisting of casinos, five stunning resorts, and a gorgeous 200-acre golf course set on the white-sand beaches of Vung Tau Province."

The ground-breaking ceremony Saturday will be attended by former Canadian prime minister Jean Chretien, who is currently visiting the Southeast Asian country, said a report on the official government website. The 160-hectare complex will include a resort area, conference and exhibition centre, a shopping hall, restaurants and entertainment facilities, said the Vietnam Chamber of Commerce and Industry in an online report.

Vietnam bans gambling, officially regarded as a "social evil," but allows foreign tourists to visit a casino in the port of Haiphong. State-controlled media referred to the ACDL project as a "tourist and convention complex."

ACDL says on its website it is the lead developer of the 4.2-billion-dollar Ho Tram Strip, where the first phase of development would include two five-star hotels with 2,300 rooms and "Vietnam's first Las Vegas-style casinos."

Construction of the project, also set to include a golf course designed by Greg Norman, is scheduled to start in the second half of 2008 and be completed by 2011, the company says on its website.

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