Pinnacle Entertainment, Inc. has closed on its $95 million investment in Asian Coast Development (Canada) Ltd. (ACDL), the owner and developer of the Ho Tram Strip beachfront complex of destination integrated resorts and residential developments in southern Vietnam.
The Ho Tram Strip development is located approximately 80 miles southeast of Ho Chi Minh City, Vietnam’s largest city. The first phase of the Ho Tram Strip, MGM Grand Ho Tram, is currently under construction with a planned opening in 2013. It will feature 541 luxury guestrooms and suites, restaurants, VIP accommodations, a conference center, and an entertainment area featuring 90 live table games and 500 electronic games.
The second integrated resort of the Ho Tram Strip, for which Pinnacle has secured a management agreement, will be jointly developed by Pinnacle and ACDL and owned by ACDL. The companies expect that the second integrated resort,will be similar in project scope to the MGM Grand Ho Tram.
