SJM Holdings wants to develop $6 billion casino complex in Quy Nhon

Binh Dinh People’s Committee is proposing the prime minister to assign the relevant ministries and authorities to support SJM Holdings Ltd. to develop a $6 billion resort and casino complex project in Quy Nhon city.

In a document submitted to the prime minister, Binh Dinh People’s Committee said that in July 2020, SJM Holdings expressed intentions to develop a resort, financial, and commercial complex in collaboration with a casino. The complex would involve the total investment capital of $6 billion and generate 3,000-4,000 jobs for local people.

The provincial leaders and representatives of the investors discussed solutions to survey the land and implementation plans. However, due to the COVID-19 pandemic, the investors are not able to arrange trips to Vietnam to survey the investment location.

SJM Holdings wants to co-operate with a domestic enterprise to develop the project. Accordingly, the domestic partner would be in charge of completing the legal procedures and preparing the land plot for project implementation.

Binh Dinh People’s Committee introduced SJM Holdings to Hung Thinh Group, the investor of Hai Giang Merry Land Quy Nhon project for co-operation. Hai Giang Merry Land Quy Nhon covers an area of 656 hectares and has a total investment capital of VND3.42 trillion($148.7 million). It includes international-standard hotels, resorts, and a high-end amusement area.

SJM Holdings Ltd. is a leading owner, operator, and developer of casinos and integrated entertainment resorts in Macau. SJM owns and operates the Grand Lisboa hotel and casino, as well as 18 other casinos located in prime locations on the Macau Peninsula and Taipa. The company’s operations cater to a wide spectrum of patrons, with mass-market and VIP gaming tables, slot machines, and hospitality services including fine and casual dining and luxury accommodation.

By Ha Vy