U.S. private equity firm Warburg Pincus LLC is setting its sights on acquiring The Grand Ho Tram hotel and casino in Vietnam, Inside Asian Gaming reported, citing unnamed sources.
Phase one of the integrated resort has been completed and it features a golf course, a hotel with 541 keys and a casino that can accommodate 90 tables. A total of US$600 million was spent to complete the first phase of the project, according to the March 17 report.
Construction of a new hotel is underway, which will bring the total number of hotel rooms to 1,100, the report added. Developer Ho Tram Project Co. previously said it had injected US$1.1 billion of capital into the development.
The publication said it was not able to receive a comment from Warburg Pincus regarding the plan.