KN Paradise Resort Casino Complex is rising soon within its premises in Cam Ranh beach resort. It is after the government issued an approval for a large-scale casino complex to build on its premises. Also, they are looking to begin construction in 2021.
Based on reports of online casinos, Phase 1 of the casino project is expected to open within the next three years. It is according to the statement of the spokesperson for KN Cam Ranh City Co Ltd.
What to Expect in KN Paradise Resort Casino Complex?
The company is allowed to develop the Vietnam casino complex with an aggregate area of 40 acres. It is within the vicinity of the KN Paradise Resort in Cam Ranh City, a southern-central coast region of Vietnam. Furthermore, it will be offering 200 gaming tables and 2,000 electronic gaming machines.
According to online casino forums, the company is looking for international casino gaming operators for partnership deals. These global partners will help with the development and operations of the integrated resort.
Furthermore, their strategic location and development plan will create an indispensable addition to the Pan-Asia integrated resort market. It is according to the investment deputy-general director of KN Paradise Cam Ranh.
What is the Vietnam Government Policy on Major Casino Projects?
According to a rewritten government rule in 2017, major casino projects need US$2 billion in investment funds for approval. Also, at least US$1 billion has to be invested to allow its opening. Moreover, it is not clear if the casino resort will cater to local gamblers.
Some casino schemes are envisaged under the trial project by the Vietnamese government. As per sources of the best online casinos in South Korea, casino gambling is prohibited for Vietnamese locals but is allowed to foreigners.
So far, there is only one casino property that is allowed to offer gambling services to economically-qualified locals. It is a new gaming complex in Vietnam located on Phu Quoc island.