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BTC to develop Casino at the Laguna Lang Co resort complex in Vietnam

Bayan Tree Capital has issued a Request for Concepts for the development of a casino at its Laguna Lang Co resort complex near Danang. The complex, first launched in April 2013, is currently home to the Banyan Tree and Angsana- two of Vietnams top luxury reports. Other facilities at Laguna Lang include a golf course, a spa and various retail outlets.

BTC to develop Casino at the Laguna Lang Co resort complex in Vietnam

In an effort to attract more holidaymakers from China, Banyan Tree Capital (BTC), owner of Laguna Lang Co luxury resort complex in Vietnam has issued a Request for Concepts (RFC) for the development of a casino in the complex which houses both the Bayan Tree and the Angsana resorts.

BTC's managing director Steve Small stated the following of his firm's decision to add the gaming complex:

"We are seeking facilities and strategies that are focused on attracting foreign tourists from greater Asia, with a particular focus on inbound tourists from China and greater Asia".

Mr. Small went on to clarify that BTC would not be the operator of the Casino but was instead looking for an experienced independent operator. Small stated that he was confident that experienced operators in the gaming industry would be keen to take advantage of the business opportunity in addition to contributing to Vietnam's goal of growing its tourism industry and boosting its ability to compete with other destinations in Southeast Asia.

Recent statistics have reflected a slowdown in Vietnam's tourism industry with an expected 12.6 per cent decline in the number of arrivals in the first five months of 2015 when compared to the same period last year. Much of the slowdown has been attributed to the fallout of lower oil prices and a decline in the number of visitors from China since May 2014 due to a territorial dispute between the two countries and subsequent anti-China riots in Vietnam.

Recently it has been reported that the Vietnam government has approved a tourism growth plan put forward by Vietnam's Ministry of Culture, Sports and Tourism. As part of the plan travellers from key source markets, including the four Nordic countries, Russia, Japan and South Korea, booking their holidays in Vietnam will no longer be required to pay for a visa.

Reportedly, the Ministry of Culture, Sports and Tourism has also made a request for exemptions for the UK, France, Germany and Australia. Additionally, the government has also approved the proposal to establish a Vietnam Tourism Development Fund (VTDF), which is expected to raise up to 115.7million USD over the next five years. Vietnam is currently aiming to attract up to 50 million domestic and foreign holidaymakers by 2030.

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