Dual Gaming Reforms
The integrated resort immediately activated full domestic access to its 5,000 sq m gaming floor upon Monday’s policy implementation, with all 90 tables and 500+ electronic machines now available to approved Vietnamese patrons. This operational change aligns with Hanoi’s November 26 revision of its experimental gambling framework, which tripled nationwide participation to three licensed venues.
Phu Quoc’s Corona Resort previously tested localised gaming through a 2019-2025 initiative. The Grand Ho Tram’s updated program now serves as southern Vietnam’s only active domestic casino operation pending further regulatory review.
Concurrent with the access expansion, the venue completed its transition to VND betting, ending US dollar transactions to streamline domestic participation. Located 120 minutes from Ho Chi Minh City, the 24/7 facility aims to capitalize on proximity to one of Southeast Asia’s most dynamic urban economies while adhering to strict eligibility protocols.
Warburg Pincus Drives Ho Tram Expansion
US private equity giant Warburg Pincus LLC has steered The Grand Ho Tram’s development since acquiring control of its parent company, Asian Coast Development Ltd, in July 2019, replacing former stakeholder Harbinger Capital. The ownership transition introduced casino veteran Walt Power’s leadership team in early 2020, overseeing the resort’s evolution from its 2013 debut as a US$500 million venture.
Regional Ambitions
Current expansion plans aim to realize the property’s original US$2.4 billion vision, with a newly launched US$1 billion phase now underway across 35 hectares. The development will offer premium accommodation and event infrastructure to complement existing assets, including the casino, partial lodging, and a golf course.
Speaking at the groundbreaking ceremony, Walt Power stated, “We firmly believe that Ho Tram will not only be Vietnam’s leading integrated resort destination but will also be able to compete with top regional destinations such as Singapore, Manila, and Macau, particularly as we work closely with authorities at all levels to explore new growth drivers.”
