Vietnam’s Corona Resort & Casino in Phu Quoc, which earlier this year wrapped up a pilot program for locals gambling on its property, fell to a VND564 billion (US$21.4 million) loss for the six months to 30 June 2025 – widened from the VND332 billion (US$12.6 million) loss reported a year earlier.
Local media outlet Tuoi Tre News, which cited figures from the casino’s parent company Phu Quoc Tourism Development and Investment JSC, said this takes Corona’s cumulative losses since opening in 2019 to VND5.5 trillion (US$208 million).
The 1H25 result also saw Corona’s equity fall from VND1.99 trillion (US$75.4 million) a year earlier to VND960 billion (US$36.4 million), resulting in its debt-to-equity ratio deteriorating to more than 20x versus around 14x after 1H24.
Corona Resort & Casino was the only casino Vietnam chosen to take part in a three-year trial of locals gaming from 2019 onwards, although gaining a read on the program’s success has proved challenging given that the pandemic hit shortly after commencement and Phu Quoc is hardly rife with a large locals population anyway. It was previously reported that only 5% of the casino’s revenues during the initial three-year term of the pilot were generated by local players.
Despite this, the Vietnamese government is preparing to allow Corona to offer locals gaming on a permanent basis – one of many new concessions that could also include a US$100 entry fee in place of the previous requirement that locals show proof of income before being allowed to gamble.
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