VinaCapital finds partner for Quang Nam project

    VinaCapital said it has found a partner to replace Malaysia’s Genting in a $4 billion dollar integrated resort project in South Hoi An. An official with the Chu Lai Economic Zone Management Authority declined to name the partner, but told the Vietnam Investment Review that  it’s a “famous global player in the casino industry.” 

    VinaCapital previously held an 80 percent stake in the project, with Genting Malaysia, which withdrew in 2012, holding the remainder. The official said under the new accord, VinaCapital’s new partner could acquire an 80 percent stake in the project, while VinaCapital would retain the remainder. Other local media reports named Casinos Austria as a potential investor.