Looking to become a more attractive destination for tourists, Vietnam has revolutionized many of their industries including, most recently, the inclusion of gambling on a grand scale. That was on full display on Thursday when it was announced that Matrix Holdings was in negotiations to build a $200 million complex in the city of Da Nang specifically dedicated to horseracing.

In November of 2018, authorities in Hanoi approved a $500 million entertainment complex set to open in 2021. This entertainment complex would include horseracing as well as other gaming operations. This came almost exactly 12 months after the National Assembly made sports betting legal.

Another horseracing venue is already under construction in Dai Nam Park. This 1.5 km track will not only be used for horse and dog racing but will provide facilities for Pro-kart and jet ski racing as well. The stadium is expected to hold 20,000 initially with upgrades reaching 60,000 for future events.

Matrix Holdings has agreed in principle to create the complex in Da Nang, but there is still a hurdle to be overcome. The construction of the proposed complex must be confirmed by the National Assembly before finalization of any agreement.