Extend scheme allowing Vietnamese to gamble at Phu Quoc casino: ministry
The Finance Ministry has asked for a two-year extension of the pilot scheme that allows Vietnamese citizens to gamble at Phu Quoc Island’s Corona Resort and Casino.
Corona Resort and Casino in Phu Quoc Island. Photo courtesy of the casino
The extension will allow “economically-qualified” locals to gamble at the casino till the end of 2024.
The Politburo, the Party's premier decision-making body, in 2016 approved in principle for the Corona Resort and Casino in Phu Quoc and a casino in Quang Ninh province's Van Don Economic Zone to receive Vietnamese players. But the pilot scheme has been deployed at the Phu Quoc casino only as Van Don casino investments remain an idea.
The ministry argues in its proposal that the scheme has proved to be a sound one that meets the needs of a group of citizens and helps increase state budget revenues, while doing no harm to public security and order.
The ministry started considering extending the time period for the scheme on the basis that pandemic-related disruptions to domestic and international tourism had made it hard to assess its merits.
That Corona Resort and Casino served 240,560 customers between 2019 and 2021, 65% of them Vietnamese, according to a ministry report.
The facility, invested in by Phu Quoc Tourism Development and Investment JSC, incurred a loss of VND2.76 trillion ($121 million) from its debut early 2019 to September 2021.
Located in the prime location of Phu Quoc, called “Pearl Island”, the complex houses nearly 2,000 five-star hotel rooms, world-class restaurants, an 18-hole golf course, the VinWonders park, and the country’s most modern casino.
The Vietnamese government had licensed eight casino projects before its Decree 03/2017 on casino business came into force in 2017.
These were: the Do Son Resort & Casino in Haiphong; Lilai International Hotel, Royal Casino and Hong Van Casino Hotel in Quang Ninh Province; Aristo International Hotel in Lao Cai Province; Crowne International Casino at the Silver Shores International Resort in Da Nang City; The Grand Ho Tram Resort & Casino in Ba Ria-Vung Tau; and the Nam Hoi An Casino Resort in Quang Nam Province.
The Politburo has also green-lighted four other casino projects in the provinces of Thua Thien-Hue, Khanh Hoa, Quang Ninh (Van Don Island) and Kien Giang (Phu Quoc Island).
- Related News
- Read More
Vietnam competition watchdog summons VNG over Zalo user data terms
The Vietnam Competition Commission (VCC) has summoned tech unicorn VNG (UPCoM: VNZ) after its messaging app Zalo abruptly updated its terms of service, requiring users to agree or face account deletion.
Companies - Tue, December 30, 2025 | 2:36 pm GMT+7
Taseco Land rides investment wave, expands industrial property footprint in northern Vietnam
Amid the continued rise of FDI inflows into Vietnam and the ongoing shift of global supply chains, Taseco Land is gradually affirming its role as a long-term, strategically oriented industrial park developer.
Companies - Tue, December 30, 2025 | 1:39 pm GMT+7
Vietnam’s pharma export hits $312 mln in 2025, ranking 4th in Southeast Asia
Vietnam’s pharmaceutical market is maintaining steady annual growth of 6-8%, with total market value projected to rise from about $2.7 billion in 2015 to around $8 billion by 2026, making the country one of Asia’s fastest-growing drug markets, the Drug Administration of Vietnam reported.
Economy - Tue, December 30, 2025 | 1:13 pm GMT+7
FPT Telecom sets sights on top spot in Vietnam’s internet TV market
By securing exclusive rights to broadcast the English Premier League (EPL), FPT Telecom has underscored its ambition to become Vietnam’s leading internet television and digital services provider.
Companies - Tue, December 30, 2025 | 11:53 am GMT+7
Vietnam's credit growth to hit 19% in 2025, highest in many years: central bank
Vietnam’s credit growth has reached one of its highest levels in years, pushing the country’s credit-to-GDP ratio to the highest among lower-middle-income economies, according to the central bank.
Economy - Tue, December 30, 2025 | 8:51 am GMT+7
Novaland shares hit ceiling price after HCMC project resumption
NVL shares of Novaland, one of the major real estate developers in Vietnam, hit its ceiling price of VND14,150 ($0.54) on Monday, following news that its The Park Avenue project in Ho Chi Minh City resumed construction after eight years of delay.
Real Estate - Mon, December 29, 2025 | 10:16 pm GMT+7
Indonesia promotes waste-to-energy conversion
Facing mounting pressure from the rapid growth of household waste, Indonesia is accelerating initiatives to convert waste into energy (WtE) as a key pillar of its green growth and circular economy strategy.
Southeast Asia - Mon, December 29, 2025 | 8:01 pm GMT+7
Create Capital Vietnam, Haimaker.ai plan $1 bln AI data center network
Create Capital Vietnam (HoSE: CRC) and Haimaker.ai have unveiled plans to develop a nationwide network of AI-focused data centers in Vietnam, with a total designed capacity of 100 megawatts and investment of about $1 billion.
Industries - Mon, December 29, 2025 | 7:37 pm GMT+7
VinSpeed begins survey work for $5.3 bln high-speed railway in northern Vietnam
VinSpeed, a rail company founded by Vingroup chairman Pham Nhat Vuong, has begun survey work in Vietnam’s northern province of Bac Ninh for a proposed $5.3 billion high-speed railway linking Hanoi with the northern port province of Quang Ninh, local authorities said.
Infrastructure - Mon, December 29, 2025 | 4:42 pm GMT+7
Sacombank stake sale could be accelerated: broker
Broker Vietcap says the appointment of Nguyen Duc Thuy as acting CEO of Sacombank could signal more positive progress toward the long-delayed sale of a 32.5% stake in the lender currently held by the Vietnam Asset Management Company (VAMC).
Finance - Mon, December 29, 2025 | 4:15 pm GMT+7
Northern Vietnam province Hung Yen eyes building int’l airport after 2030
Hung Yen province, home to the $1.5 billion Trump International Hung Yen project, has proposed developing an international airport as part of its priority investment list for the 2026-2030 period, with a vision to 2050.
Infrastructure - Mon, December 29, 2025 | 4:01 pm GMT+7
Capital-raising race redraws Vietnam’s brokerage landscape
Vietnam’s securities firms are stepping up a race to raise capital to seize opportunities from the market’s upcoming status upgrade, with brokerages backed by parent banks gaining a clear edge.
Finance - Mon, December 29, 2025 | 3:44 pm GMT+7
Property 'heat' seen in central HCMC, outlying areas with good infrastructure
The heat in Ho Chi Minh City’s property market continues to be concentrated in the city center and selected outlying areas with well-developed infrastructure or projects backed by major developers like the Can Gio area.
Real Estate - Mon, December 29, 2025 | 2:18 pm GMT+7
HCMC real estate gains appeal as International Financial Center to take shape
With the establishment of an International Financial Center, Ho Chi Minh City will form an elite community of entrepreneurs and professionals from around the globe. This is very attractive for real estate investors, says architect Truong Van Quang, deputy secretary general of the Vietnam Urban Planning and Development Association (VUPDA).
Real Estate - Mon, December 29, 2025 | 8:00 am GMT+7
Taseco Group marks 20th anniversary, receives Second Class Labor Medal
Taseco Group in December 20 celebrated its 20th anniversary and received the Second Class Labor Medal – a prestigious award from the Party and State recognizing the company's outstanding contributions to socio-economic development.
Companies - Sun, December 28, 2025 | 12:55 pm GMT+7
Top 10 standout international events in 2025
The U.S.'s imposition of reciprocal tariffs, the Thailand-Cambodia border conflict, and the AI race are among the 10 prominent international events in 2025 as selected by Vietnam News Agency.
Politics - Sun, December 28, 2025 | 12:40 pm GMT+7
