Following MGM Resorts’ withdrawal from the management of Vietnam’s Ho Tram casino project, Asian Coast Development has issued a statement.
“We thank MGM for its assistance in the hiring and training of our 2,000-strong team of Vietnamese hospitality professionals,” said ACD's CEO, Lloyd Nathan. “We are delighted that we have completed the construction of the first phase of our first resort.
“It includes 541 five-star rooms and suites, nine world-class restaurants, gaming facilities, convention and meeting space, luxury retail, bars, an ultra-lounge, a spa, three swimming pools, beach facilities and other leisure amenities.”
ACD is also currently constructing Tower 2 of the first resort, which will add an additional 559 five-star rooms and suites. In addition, it is constructing an 18-hole Greg Norman designed championship golf course.
ACD’s principal shareholders reaffirmed their long-term commitment to the project, with Harbinger Capital founder and principal Philip Falcone stating: “Harbinger Capital was among the founding investors in ACD and remains as committed as ever to the Ho Tram Strip. We believe the Ho Tram Strip is set to become the premier integrated resort destination in the region.”
