"Las Vegas Style" Casino Coming to Vietnam

In May of 2008, Asian Coast Development (Canada) Ltd. ("ACDL"), a Toronto-Vancouver based company that specializes in the creation and development of coastal resorts and casinos in Vietnam, broke ground on what will become Vietnam's first "Las Vegas style" casino - The Ho Tram Strip. Located southeast of Ho Chi Minh City in Ba Ria-Vung Tau Province, the project will have 2300 rooms and a "Las Vegas style" casino featuring 180 table games and 2000 electronic games. As the lead investor, ACDL will have a 30% stake in the project while its main partner, New York hedge fund Harbinger Capital LLC, will have a 25% stake.

Michael Aymong, the chairman of ACDL, was quoted in the Wall Street Journal as saying:

"'It's a needed project in Vietnam' that, in spite of the country's poor infrastructure, will be able to 'effectively compete' with integrated resorts in neighboring China, Malaysia and Singapore."