Singapore-based Zochwell Group is said to be close to a deal to develop a $1.2bn casino project in Myanmar.
The land on Salon Island is zoned for the project and Zochwell is negotiating a 50-year lease with options for two 10-year extensions. No other details have been released.
There has also been doubt cast on whether a plan is actually in the works at all, with a spokesperson for Myanmar’s Ministry of Hotels and Tourism, which would have to give the green light, saying no information has been submitted.
Myanmar is located north-west of Thailand and sits to the east of India and south of China, just a two-hour flight from Hong Kong. This comes as Asian countries have been looking to cash in on the high rollers looking for places to gamble outside of Macau.
