The Phu Quoc casino’s trial period has been extended until December 31.
Vietnam.- The Vietnamese government has extended the trial period allowing local citizens to gamble at select casinos. The trial period at the Phu Quoc casino, the first and only Vietnamese casino that currently allows locals to enter, has been extended until December 31, 2024. Other casinos will have a three-year trial from the date they receive their Certificate of Eligibility.
The Ministry of Finance, in collaboration with the Ministry of Public Security, the Ministry of Planning and Investment, the Ministry of Culture, Sports and Tourism, the State Bank of Vietnam and local People’s Committees where casinos will be permitted to conduct a review to decide whether to terminate or continue the trial.
Currently, there are nine casinos in Vietnam, six small-scale and three large. In 2023, they contributed VND2,541bn to the state budget and created approximately 8,500 jobs. According to Vietnamnet, the Phu Quoc casino generated cumulative revenue of VND6.4bn from 2019 to 2023, contributing VND3.6bn to the state budget. However, the venue recorded an accumulated loss of VND3.7bn due to high initial depreciation and interest costs.
The casino was visited by 295,943 Vietnamese citizens (62 per cent of all visitors) and 179,507 foreign nationals between 2019 and the end of 2023.
The Phu Quoc casino’s trial period has been extended until December 31. Vietnam.- The Vietnamese government has extended the trial period allowing local citizens to gamble at select casinos. The…
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