Hanoi Tourist has signed an agreement with South Korean firm Global Consultant Network to build a US$500 million sports complex that will include a horse racetrack, the media reported. A source from the Hanoi company told the media that the joint venture is seeking guidance from local authorities before taking further steps to carry out the project. Hanoi Tourist obtained a license from the Ministry of Planning and Investment in 1999 to build a racetrack on an area of 40 hectares in Thanh Tri District. Hanoi Tourist took the latest move as the government is widely tipped to issue a decree on sports betting for the first time. In the southern province of Binh Duong, Dai Nam JSC is also planning a $100 million racetrack for horse, greyhound, car and motorbike racing.

Source: Thanhnien News August 23, 2016 09:11 UTC