LVS to continue scouting for IR opportunities

Casino operator Las Vegas Sands says it will continue to look for opportunities to invest and develop an integrated resort in Vietnam.

Earlier this year, the Vietnamese government made the historic decision to allow local citizens to enter select casinos in the country, reigniting interest from casino operators around the world.

“We have been working continuously with the Vietnamese Government for many years, way before the decree was issued,” said George Tanasijevich, managing director of global development at Las Vegas Sands Corp. in an interview with Vietnam Economic Times.

Tanasijevich said the company’s desire to develop an integrated resort in either Ho Chi Minh City or Hanoi remains unchanged.

“However, there is still uncertainty and risk from the perspective of the investor, given that local entry is being introduced as a three-year pilot program,” he explained.

“We view Vietnam as a market that has a huge upside for business and leisure tourism. We believe that our MICE-focused business model would be very successful if situated in the right location, in Ho Chi Minh City and/or Hanoi. If Vietnamese are given access to the casino, subject to certain restrictions, and the project is subject to reasonable investment criteria, tax rates and casino regulation, we would be eager to proceed with the development of an IR in the country,” he said.