A trial program which allows Vietnamese to play at a casino on the southern island of Phu Quoc has been extended until the end of the year, according to a recent government decree.
Corona Casino began operation in 2019 in a trial program that allows locals to gamble. The trial ended in 2022 but was extended to the beginning of this year and has now been extended one more time.
Of the country’s nine casinos, Corona remains the only one where Vietnamese can play if they meet income requirements. Other casinos only serve foreigners.
The government has also approved for Van Don Casino, which has been earmarked in the China-bordering province of Quang Ninh, to begin the same trial program for three years after it receives operation permit.
Casino development in Vietnam is considered a special business which requires a location approval from the Vietnam Communist Party’s Politburo and a policy approval from the Prime Minister.
A developer needs to disburse at least 50% of projected capital on a casino project before commercial operation can begin.
A Vietnamese player needs to be 21 years of age or older with a minimum income of VND10 million (US$395) a month.
Corona Casino posted VND6.4 trillion in revenue between 2019 and 2023, with a third of it recorded in 2023 alone, according to the Ministry of Finance.
It posted an accumulated loss of VND3.7 trillion by the end of last year.
