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MarketScreener Homepage  >  Equities  >  SINGAPORE EXCHANGE  >  Banyan Tree Holdings Ltd    BANY   SG1T49930665

BANYAN TREE HOLDINGS LTD

(BANY)
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Banyan Tree : Vietnam grants first casino licence in ten years to Laguna Lang Co

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05/24/2018 | 01:02pm EDT

Laguna Lang Co, one of Asia’s largest integrated resorts with international hospitality operator Banyan Tree as its managing partner, has officially got a casino licence from the Vietnamese government, marking it the first casino license in recent 10 years in Vietnam.

Ho Kwon Ping received the Notice of Casino Approval

Laguna Lang Co is part of a chain of integrated resorts created and managed by Banyan Tree under the Laguna brand and includes Laguna Bintan in Indonesia and the flagship Laguna Phuket in Thailand.

Laguna Lang Co’s Phase 1 development, with an investment of $285 million, comprises both Banyan Tree and Angsana hotels, an 18-hole championship golf course designed by golf legend Sir Nick Faldo, luxury private villas and residences, convention facilities, recreational activities, and beachfront land for six more hotels, part of a 280-hectare project. It will be celebrating its 5th anniversary this month on May 25-27.

“With the commemoration of Laguna Lang Co’s 5th anniversary, the issuance of the casino licence is a good start for our second phase,” said Ho Kwon Ping, executive chairman of Banyan Tree Holdings. “Many hotel investors and development funds have been awaiting the casino licence and the selection of a casino operator before finalising their investment into our Phase 2.”

This is the first casino licence issued by the Vietnamese government in the past ten years. Laguna Lang Co welcomes world-class casino operators and investment partners to join in the next exciting phase and growth of its integrated resort development in Central Vietnam.

Known for its sustainable efforts towards the environment, the local community, and the economy of Hue, Laguna Lang Co is the first luxury resort development of Banyan Tree Holdings Limited in Vietnam and has received numerous international awards. Existing infrastructure, including transportation, electrical, water, and environmental management systems, will allow the rapid development of Phase 2 and future phases.

The expansion project running from 2018 to 2022 will see investment capital increase from $875 million to $2 billion and include international-scale casino operations on its existing land.

Integrating a casino within the beach-golf resort which is in close proximity to three UNESCO Heritage sites provides a unique cultural, sporting, and entertainment experience that will further boost tourism in the central province of Thua Thien-Hue and attract global travellers.

Laguna Lang Co receives investment certificate for expansion and casino

Banyan Tree Holdings from Singapore, a leader in hotels, resorts, and luxury apartments in the Asia-Pacific region, has been granted the investment certificate to increase ...

Laguna Lang Co green-lighted for casino business

Yesterday, Prime Minister Nguyen Xuan Phuc agreed in principle to the proposal to add the casino business to Laguna Lang Co—the largest world-class integrated resort ...

Laguna Lang Co to receive casino add-on by 2021

Once the casino project under Laguna Lang Co integrated complex is approved, the investor plans to develop and take the casino into operation by 2021 ...

(c) 2018 Vietnam Investment Review Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (SGD)
Sales 2019 380 M
EBIT 2019 56,0 M
Net income 2019 17,8 M
Debt 2019 331 M
Yield 2019 1,77%
P/E ratio 2019 19,48
P/E ratio 2020 25,68
EV / Sales 2019 2,12x
EV / Sales 2020 1,73x
Capitalization 475 M
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Number of Analysts 1
Average target price 0,76  SGD
Spread / Average Target 35%
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NameTitle
Hock Lye See Group Managing Director, Group MD & Executive VP
Kwon Ping Ho Executive Chairman
Kuan Chiet Chief Financial Officer
Ariel P. Vera Non-Independent Non-Executive Director
Chee Ming Chia Lead Independent Non-Executive Director
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