The Grand Ho Tram, a Vietnamese resort with foreigner-only casinos, is using high-profile events to help propel its gaming and hotel businesses. Walt Power, the chief executive of Grand Ho Tram Resorts and Casino, told GGRAsia in an interview.
The latest example was the World Boxing Organization (WBO) Asia-Pacific’s “Fight Mania” night on Saturday, where its CEO said there were six cards, including some of the most talented people in the region and Korean fighters, an important target market for the Grand Ho Tram. The event took place in a 1,254 sq m (13,498 sq ft) ballroom in the accommodation, and was told by a ring announcer that it was in the “millions.”
Mr. Power explained that these events were “critical” to the success of the property, and that he had attracted martial arts fans and others to help them make the two-and-a-half-hour drive from Ho Chi Minh City to Hothram on the southern coast of Vietnam. The executive, a veteran of Macau casino operations, said he had been in his current role for four years, and immediately recognized the value of expanding his property event roster to facilitate his property transactions.
The casinos on the Grand Ho Tram (pictured below) are not currently authorized to serve locals, but Mr Power says expats from South Korea, Taiwan and other countries with business interests in Vietnam and based in the global city of Ho Chi Minh City, a big city of more than 9 million, are an important component of their clients.
Mr. Power said, “When there are special events – boxing, mixed martial arts, casino VIP events – we recently had horse races on the beach – casino performance goes up a lot. The numbers speak for themselves.”
“Battle sports events have the highest (casino) drop over the weekend,” he added.
The main investor in Grand Hot Tram is private equity firm Warburg Pincus LLC, so the property does not disclose specific sales numbers in the manner of listed casino companies. Vina Capital, a Vietnam-focused investment manager, is also a sponsor.
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