A joint venture formed by Genting group and local fund manager VinaCapital has obtained approval from the central government for a US$4 billion casino resort project in Hio An city.
It is not known which companies in the Genting group will undertake the Vietnamese project.
That aside, the Genting group is also said to be exploring the setting up of a casino in Sri Lanka, as the island nation’s parliament recently passed the Gambling Bill to legalize gaming.
The government plans to join others in the region in luring tourist dollars with a casino.
Earlier 2010, Genting group invested in the Union Bank of Colombo. Genting Bhd holds a 20% stake. Considering that the Genting group has a toehold in Sri Lanka, there is a possibility of a more meaningful investment in that country.
Although Sri Lanka has been legalized gaming, there is no shortage of casinos or betting centers in the country. There are nine casinos in Sri Lanka.
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