Terms of the investment weren't disclosed.
According to company press materials, NewCity—an entity established by American investor Chien Lee—is the most recent in a sequence of investments Lee has made in hospitality ventures within the Asia Pacific region.
“The Ho Tram Strip is likely one of the most enjoyable tourism developments in Asia Pacific,” Lee said in a prepared statement. “This project provides NewCity with the chance to take part within the first major integrated resort project in Vietnam. I expect Vietnam to be one of the vital fastest growing tourism markets within the region and the Ho Tram Strip development has a primary mover advantage within the large scale integrated resort market. I GLANCE forward to working closely with all the ACDL team as this incredible project continues to take shape.”
The first phase of the Ho Tram Strip—The Grand Ho Tram Strip—opened its doors a year ago, and includes 541 five star rooms, gaming facilities, meeting and convention space, ten bars and restaurants, a spa, teen’s and children’s areas, three swimming pools, luxury retail shops and The Bluffs—a Greg Norman designed championship golf course.
The Ho Tram Strip is 2 hours clear of Vietnam's largest metropolis, Ho Chi Minh City, and currently includes The Grand, in addition to The Bluffs Championship Golf Course, prepared on a 2.2 kilometer beach surrounded by protected forest.
Read More... [Source: Gaming Industry News]
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