PRESS RELEASE
Ho Chi Minh City: 23 November, 2010: With phase 1 of Asian Coast Development (Canada) Limited’s $4.2 billion project underway, Jim Murren, Chairman and CEO of MGM Resorts International, together with Gamal Aziz, CEO of MGM Hospitality, the company which will manage phase 1 of the project, and a delegation of senior representatives from MGM Resorts and Asian Coast Development (Canada) Limited, recently visited the site of the future MGM Grand Ho Tram for consultations with the design and construction teams.
Mr. Murren was highly optimistic about the attractions that Vietnam offers to the world entertainment industry, and the opportunities that the nation provides tourists from the surrounding region and around the world.
“Vietnam is an integral part of our strategic plans for ambitious developments in Asia. We believe the Ho Tram development is perfectly suited to complement Vietnam’s rapid growth in international visitation, expanding domestic tourism, and increasing demand for luxury leisure opportunities,” said Mr. Murren.
“With our unrivaled knowledge and experience in operating large scale destination resorts, and the proximity of the property to Ho Chi Minh City, we look forward to the success of our flagship property in Vietnam,” said Mr. Murren
The MGM Grand Ho Tram will be the first resort development for Asian Coast Development (Canada) Limited. “The foundations are being laid and the construction of the shell and core is about to commence,” said Asian Coast Development (Canada) Limited CEO, Mr. Lloyd Nathan. “We are delighted to have reached a point where the thousands of hours that have been invested in the design and conceptualization of this project are becoming a visible reality. The Ho Tram development promises to create a number of significant new opportunities for Vietnam, from jobs to leisure activities, as well as tourist attractions”
Mr Aziz added, “This is a truly world-class location set in a spectacular natural setting, and one to which we will bring an amazing hospitality experience. We look forward to continuing to work with Asian Coast Development to create a dynamic entertainment and leisure complex which will deliver a wide range of entertainment and dining options for both international visitors and Vietnamese citizens alike.”
About Asian Coast Development (Canada) Ltd
Asian Coast Development (Canada) Ltd. (ACDL) is an international development company specializing in integrated resort destinations. ACDL, through its wholly-owned subsidiary Ho Tram Project Company Ltd, is the developer of the Ho Tram Strip, a group of integrated resorts to be located on more than 400 acres of land and more than two kilometers of pristine beach in Ho Tram, and approved in an Investment Certificate issued by the Government of Vietnam. With a focus on providing a personalized blend of excitement and relaxation, the Ho Tram Strip will feature something for everyone, from lavish Las Vegas-style entertainment to premium shopping and exceptional recreational facilities. In November 2008, ACDL entered into an Agreement with MGM Resorts International to provide pre-opening services and to manage and operate the first of ACDL’s five resorts under the MGM Grand brand. This will be Vietnam’s first Las Vegas-style integrated resort and ultimately will include an 1,100-room, five-star MGM Grand hotel, a world-class entertainment facility, restaurants, high-tech meeting space, an exclusive VIP area, a championship golf course, as well as a variety of beach-front recreation activities. Phase I of this development is scheduled to open in 2013 and will be the initial component of the largest integrated resort complex in Vietnam. For more information about ACDL, please visit the company’s website at http://www.asiancoastdevelopment.com/
