Da Lat seeks to open casino for night economy development
Da Lat, a famous tourism destination in the Central Highlands province of Lam Dong, plans to open its first casino as part of the town's draft plan on night-time economy development.
A corner of Thung Lung Tinh Yeu (Love Valley) in Da Lat town, Lam Dong province, Vietnam's Central Highlands. Photo courtesy of Tiki e-commerce platform.
According to the draft plan for 2023-2030, the casino, along with shophouses, clubhouses, and recreational activities, will be located in the tourism areas of Thung Lung Tinh Yeu (Love Valley), Mong Mo (Dreamy) hill, and Thong Nhat (Reunification) hill. Those areas are about five kilometers away from Da Lat town's center.
Da Lat asked Lam Dong province authorities to let Thanh Thanh Cong Lam Dong Tourism Co.Ltd, the tourism arm of local multi-sector business TTC Group, to develop the night-time economic complex.
It is also a move of Da Lat to develop new tourism models and reduce the overwhelming number of visitors to the central area.
Besides, Da Lat’s draft plan features a new night market, also the replacement of the current night market in Ward 1; a musical water park; a street food; longer serving time of cafes, cinemas, bowling facilities; shopping streets; among others.
Vietnam currently has nine operating casinos, namely Do Son Resort & Casino in Hai Phong city; Lilai International Hotel, Royal Casino, Hong Van Casino Hotel in Quang Ninh province; Aristo International Hotel in Lao Cai province; Crowne International Casino in Silver Shores International Resort in Danang city; Grand Ho Tram Resort & Casino in Ba Ria-Vung Tau province; Nam Hoi An Casino Resort in Quang Nam Province; and Corona Resort and Casino on Phu Quoc island of Kien Giang province.
Three others in the central provinces of Thua Thien-Hue and Khanh Hoa and Van Don district of northern province of Quang Ninh are under construction or drafting.
Those in Phu Quoc and Van Don are the only two Vietnamese players can enter. Last year, the Ministry of Finance proposed a two-year extension of the pilot scheme that allows Vietnamese citizens to gamble at Phu Quoc island’s Corona Resort and Casino.
The ministry started considering extending the time period for the scheme on the basis that pandemic-related disruptions to domestic and international tourism had made it hard to assess its merits.
The facility, invested in by Phu Quoc Tourism Development and Investment JSC, incurred a loss of VND2.76 trillion ($121 million) from its debut early 2019 to September 2021.
- Related News
- Read More
Sumitomo subsidiary acquires 49% stake in Vietnam’s top crop protection firm
Summit Agro International Ltd., a member of Japanese conglomerate Sumitomo, has acquired a 49% stake in Hop Tri Investment Corporation, a leading crop protection firm in Vietnam.
Companies - Fri, November 22, 2024 | 8:25 pm GMT+7
E-wallets get thin as banking apps prosper in Vietnam
E-wallets appear unable to compete strongly against online banking applications in Vietnam, several market observers say.
Banking - Fri, November 22, 2024 | 7:15 pm GMT+7
Use social media influencers in targeted manner for e-commerce success: Vietnam execs
Vietnamese companies should use new generation influencers in a targeted manner, prioritizing specific market segments, standardizing quality and focusing on strong product categories to achieve e-commerce success, says Nguyen Ngoc Luan, CEO of Meet More Coffee.
Companies - Fri, November 22, 2024 | 4:26 pm GMT+7
VinFast’s parent, PV Power partner to speed up charging station expansion
Vietnamese private conglomerate Vingroup, the parent firm of electric vehicle manufacturer VinFast, and state-controlled PV Power have entered an agreement to develop charging stations across the country and promote rooftop solar installations.
Companies - Fri, November 22, 2024 | 4:11 pm GMT+7
Petrovietnam, Petronas to boost renewable energy cooperation
Petrovietnam and Petronas, two state-owned oil & gas giants of Vietnam and Malaysia, will further cooperate in renewable energy, including exchange of information, knowledge, and experiences.
Energy - Fri, November 22, 2024 | 2:59 pm GMT+7
FTSE Vietnam ETF may heavily buy Vinhomes, sell Vingroup in upcoming reshuffle: broker
FTSE Vietnam ETF is forecast to strongly buy in several Vietnamese heavyweights such as Vinhomes, Hoa Phat, and Vietcombank in its upcoming portfolio reshuffle.
Finance - Fri, November 22, 2024 | 2:45 pm GMT+7
$681 mln central Vietnam urban area project eyed by Sun Group gets authorities' nod
A VND17.3 trillion ($681 million) urban area project that is drawing the interest of major realty developer Sun Group has received an in-principle approval from Khanh Hoa province's administration.
Real Estate - Fri, November 22, 2024 | 1:53 pm GMT+7
Vietnam foreign ministry dismisses allegations of tightening visa rules for foreigners
Allegations of Vietnam tightening visa policies and control over foreigners are "baseless", Foreign Ministry spokeswoman Pham Thu Hang said Thursday.
Politics - Fri, November 22, 2024 | 11:29 am GMT+7
Thailand-invested food giant CP fined $31,000 for environmental violations
Vietnam’s southern province of Dong Nai has issued a fine of VND790 million ($31,080) to Thailand-invested C.P. Vietnam Corporation for violating environmental regulations.
Companies - Fri, November 22, 2024 | 10:48 am GMT+7
Vietnamese billionaire’s daughter spends $25 mln on Masan share purchases
Nguyen Yen Linh, the daughter of chairman Nguyen Dang Quang of consumer goods giant Masan Group (HoSE: MSN), has purchased nearly 8.5 million MSN shares over the past three weeks, meeting 85% of her target.
Finance - Fri, November 22, 2024 | 10:27 am GMT+7
PYN Elite manager upbeat about Vietnam’s economy, stock market despite Trump uncertainty
The Vietnamese economy will still fare well, and the local stock market will remain appealing despite the recent pullback following Donald Trump’s election win for a second term, said Petri Deryng, portfolio manager of Finland-based the PYN Elite fund.
Finance - Fri, November 22, 2024 | 8:25 am GMT+7
Central Vietnam province plans to build $2.4 bln LNG power plant from 2031
The 4,800-MW Chan May LNG power plant, with an investment of $2.4 billion, can be deployed in 2031-2035, according to Thua Thien Hue authorities.
Energy - Thu, November 21, 2024 | 10:41 pm GMT+7
Indonesia, France step up cooperation in economy, defence
Indonesian President Prabowo Subianto discussed economic and defence cooperation during a bilateral meeting on Tuesday with French President Emmanuel Macron on the sidelines of the G20 Summit in Rio de Janeiro, Brazil, Antara reported.
Southeast Asia - Thu, November 21, 2024 | 10:25 pm GMT+7
Thai economy to maintain upward momentum in 2025
The National Economic and Social Development Council of Thailand (NESDC) expects the Thai economy to sustain its upward momentum in 2025 with a growth of 2.3-3.3% despite growing risks.
Southeast Asia - Thu, November 21, 2024 | 10:24 pm GMT+7
Former parliament chairman Vuong Dinh Hue warned for violations
The Politburo, Vietnam's supreme decision making body, on Wednesday issued warnings to Vuong Dinh Hue, former Chairman of the National Assembly, and Nguyen Van The, former Minister of Transport, for violations while on duties.
Politics - Thu, November 21, 2024 | 10:10 pm GMT+7
Sumitomo insists on building LNG power plant in central Vietnam
Japanese trading house Sumitomo has been pushing for a liquefied natural gas (LNG)-fed power plant investment in Vietnam’s central province of Khanh Hoa.
Energy - Thu, November 21, 2024 | 8:53 pm GMT+7
