Project Summary
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Asian Coast Development (Canada) Ltd. (ACDL) has received a “first of its kind” Investment Certificate from the Government of Viet Nam, approved by both the central government and the Ba Ria - Vung Tau provincial government. ACDL has the right under the Investment Certificate to develop five large-scale luxury resorts and two Las Vegas-style gaming centres on a 169 hectare pristine beachfront property located in Ho Tram, 127 kilometres southeast of Ho Chi Minh City. The property will be developed to showcase and capitalize on a 2.2 km strip of untouched beach bordering the South China Sea. On November 17, 2008 ACDL’s wholly owned Vietnamese subsidiary (Ho Tram Project Company) entered into a Collaboration and Assistance Agreement and a Management Services Agreement with MGM MIRAGE Hospitality International Holdings Limited (MMH), a subsidiary of MGM MIRAGE. Under the terms of the Collaboration and Services Agreement MMH will assist in the development and marketing of the first of the five resorts - MGM Grand Resort and Casino, Ho Tram (MGM Grand Ho Tram). MGM Grand Ho Tram will be a luxury integrated resort and entertainment destination offering guests a premier hospitality experience. In 2013, the five-star MGM Grand Ho Tram plans to open its doors offering 550 luxury guest rooms, a spectrum of world-class restaurants and entertainment amenities, a conference centre, a retail area, a golf course designed by Greg Norman, and a fully operational Las Vegas-style gaming facility.
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