The $4bn Nam Hoi An casino in the Quang Nam province of Vietnam will break ground on April 23.

Quang Nam

Investors are backed by Hong Kong-listed Choi Tai Fook and Vietnamese investment company VinaCapital. Nam Hoi An will be the second largest casino resort in the country after Grand Ho Tram Strip.

The casino, approved since 2010, was originally planned by VinaCapital and Genting Malaysia. Genting dropped out in 2012, leaving the door open for Choi Tai Fook to enter the project.

Sun City, which is 70 per cent owned by Choi Tai Fook, will operate the casino. Phase one will cost $500m, cover about 396 acres and will open in the first quarter of 2019.