Payout elusive on US hedge fund’s Vietnam casino bet

201610070822471a3izBill Thomson, Managing Partner –  Bill was an independent director for seven years for Ho Tram Project Company Ltd. while at the same time Chairman of the Audit Committee, and a member of both the Governance and Compliance Committees. For almost a year, Bill was Executive Chairman and CEO while the business sought someone with domain expertise.

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Already some $750 million of a planned $4.2 billion has been sunk into the Ho Tram Strip complex, yet returns remain elusive at a time when Asia’s established gambling centers — Macau, Singapore and South Korea — are struggling. Construction delays, management turmoil, financing problems and jumpy U.S. business partners have taken a toll on Ho Tram, but Asian Coast Development, its Vancouver-based owner, is plowing ahead with further construction on hopes of a market turn.