MGM Jumps Into Vegas-Style Resort in Vietnam

By Jennifer Brenner Andrade

Vietnam is the lucky recipient of its first “Las Vegas style” resort and MGM Mirage has signed on to assist with the development of the resort as well as manage and lend its flag to the project. The MGM Grand Ho Tram, which has already broken ground, will be owned and financed by Asian Coast Development Ltd., an international development and real estate company. The firm plans to position the MGM property as the anchor for its $4.2 billion multi-property Ho Tram Strip resort complex.

Set on the South China Sea in the Ba Ria Vung Tau Province of southwest Vietnam, some eighty miles from Ho Chi Minh City, the newest MGM Grand will have 1,100 rooms as well as all of the trappings of an MGM property including gaming and entertainment, luxury retail, signature chef eateries, spa services and exclusive VIP areas. The resort is expected to open in 2011 and will be one of five resorts Asian Coast Development has planned for the Ho Tram Strip.

"This is a landmark project not just for our company, but for the people of Vietnam," said Mike Aymong, Chairman of Asian Coast Development. "By creating partnerships with world-class operators such as MGM MIRAGE, this burgeoning destination is poised to transform Vietnam's tourist industry and designed to compete with integrated resorts in neighboring China, Malaysia and Singapore. Our goal is to develop a five-star coastal paradise that attracts tourists year-round with its temperate climate, breath-taking views, and concentration of high-quality resorts and entertainment."