• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Wednesday 27 August 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

The Grand Ho Tram in Vietnam targeted for acquisition by Warburg Pincus

Newsdesk by Newsdesk
Sun 17 Mar 2019 at 09:27
The Grand Ho Tram in Vietnam targeted for acquisition by Warburg Pincus
82
SHARES
1.3k
VIEWS
Print Friendly, PDF & Email

Several sources have informed IAG that integrated resort The Grand Ho Tram in Vietnam has been targeted for acquisition by American private equity firm Warburg Pincus, LLC.

Warburg Pincus has been a private equity investor since 1966 and has investments of approximately US$40 billion in retail, industrial manufacturing, energy, financial services, health care, technology, media and real estate. It has offices in the US and China.

Phase 1 of Ho Tram, located on the southeast coast of Vietnam around two hours by car from Ho Chi Minh City, cost around US$600 million to complete and features a 541-room hotel, a casino with space for 90 tables and a Greg Norman-designed golf course. A second hotel under construction will bring the total key count to 1,100, with developer Ho Tram Project Co stating recently that it had deployed and forward-deployed capital of US$1.1 billion.

The Grand Ho Tram has long sought a change to Vietnamese law to allow local Vietnamese to gamble in its casino, but to date has been unable to do so. Vietnam’s first three-year pilot program for locals gaming was instead awarded to Corona Resort and Casino in Phú Quốc, which is the only casino currently allowed to accept local Vietnamese, under certain qualifying conditions. A casino resort currently being developed at Van Don in northern Vietnam will reportedly become the second.

The Grand Ho Tram’s parent company is Asian Coast Development Ltd (ACDL), whose directors as listed on its website include Philip Falcone, Chien Lee and Anthony Podesta.

Philip Falcone is founder of Harbinger Capital, a New-York based hedge fund. Chien Lee is the founder, Chairman and CEO of NewCity Capital and the Chairman and largest shareholder of Barnsley Football Club in the UK. Anthony Poedsta is a Democratic lobbyist and Founder and Chairman of the now-defunct Podesta Group.

IAG contacted both Warburg Pincus and Harbinger Capital for comment but had not received a reply from either by the time of publication.

RelatedPosts

Vietnam asks PM to grant approval for US$2 billion Van Don casino development in Quang Ninh province

Local developer Sun Group approved to develop new US$2 billion integrated resort with locals gaming in Quang Ninh Province

Mon 18 Aug 2025 at 12:33
Vietnam’s only casino for locals sneaks into profit in first six months of operation

Vietnamese economists support loosening of locals casino gaming laws to improve oversight

Thu 14 Aug 2025 at 05:33
Vietnam gaming

Vietnam to introduce casino entry fee in place of financial capacity requirement under revamped pilot program for locals

Tue 5 Aug 2025 at 19:02
Corona shines

Vietnam eyes permanent exemption allowing casino gambling for locals in Phu Quoc

Tue 15 Jul 2025 at 17:00
Load More
Tags: Asian Coast DevelopmentHarbinger Capitalhedge fundHo TramPhil FalconeThe Grand Ho Tram StripVietnamWarburg Pincus
Share51Share4
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – Better late than never

Editorial – Better late than never

by Ben Blaschke
Thu 31 Jul 2025 at 07:13

Inside Asian Gaming has in recent weeks been hearing increasing chatter around a possible move by Vietnamese authorities to introduce...

Angel’s Yasushi Shigeta

Angel’s Yasushi Shigeta

by Ben Blaschke
Thu 31 Jul 2025 at 07:08

Yasushi Shigeta, Chairman and owner of one of the world’s largest gaming industry suppliers, Angel Group, sits down with Inside...

The Magic Number

The Magic Number

by David Bonnet
Thu 31 Jul 2025 at 06:41

In this in-depth deep dive into the evolution of the Asian gaming landscape, David Bonnet argues that many regional jurisdictions...

Rashid Suliman – A road well traveled

Rashid Suliman – A road well traveled

by Ben Blaschke
Thu 31 Jul 2025 at 02:45

Rashid Suliman, Vice President of Global Gaming Asia-Pacific for casino solutions provider TransAct Technologies, provides some insight into his unique...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
HKUST
NWR

Related Posts

10 Years Ago: Next Stop Japan

Osaka-based forum to study the potential impact of MGM’s Japan IR on Korea’s casino industry

by Newsdesk
Wed 27 Aug 2025 at 05:40

The Korea Casino Tourism Association and Korea Tourism Society will this week host a two-day forum in Osaka, Japan where they will study the likely impact of the US$9 billion MGM Osaka integrated resort project on South Korea’s casino industry....

Ainsworth flags 1H25 revenue growth on Australian market strength but Novomatic takeover facing opposition by family of founder

Ainsworth and Novomatic terminate scheme of arrangement following revolt by shareholder block, unconditional takeover offer remains

by Ben Blaschke
Wed 27 Aug 2025 at 05:17

Australian slot machine and games developer Ainsworth Game Technology Limited (AGT) and its parent company Novomatic AG have terminated a scheme of arrangement under which Novomatic was looking to take 100% ownership, confirming they have deemed it unlikely that specific...

The Mall | NUSTAR Cebu wins three awards at 13th PropertyGuru Philippines Property Awards

The Mall | NUSTAR Cebu wins three awards at 13th PropertyGuru Philippines Property Awards

by Newsdesk
Wed 27 Aug 2025 at 04:49

NUSTAR Resort & Casino’s The Mall | NUSTAR Cebu has taken home three awards at the 13th PropertyGuru Philippines Property Awards, honored for Best Retail Development, Best Retail Architectural Design, and Best Retail Interior Design. Described as the flagship luxury...

Tak Chun boss Levo Chan to make mandatory cash offer for additional 29% stake in Macau Legend

Macau Legend to recognize US$165 million impairment on loss of satellite casino operations at Legend Palace

by Ben Blaschke
Wed 27 Aug 2025 at 04:39

Macau Legend Development Ltd will recognize an impairment loss of HK$1.29 billion (US$165 million) in its interim results due to the decision by SJM Resorts S.A. to close down its Macau satellite casino operations by the end of this year,...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 日本語

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • English
  • 日本語