The Hong Kong company Choi Tai Fook, together with Vietnam’s Vina Capital, is developing a US$4bn casino in the Quang Nam Province of Vietnam.

Vietnam flag

At the same time, Weidner Resorts and Steelman Partners are reported by Fantini to be joining forces to build a $4bn casino resort in Ho Chi Minh City.

These developments are contrary to criticism directed at the Vietnamese authorities during the G2E Asia show, when Sam Sheng of Double Square Consulting said that the regulation demanding a $4bn minimum investment was far too high. He said that it should be reduced to $250,000.

A bill to reduce the $4bn minimum by half is currently going through the Vietnamese parliament.

In his address at G2E Asia, Sheng said that the Chinese middle class and locals would be the principal customers for Vietnam’s casinos.