The trial period under which locals are permitted to gamble at Corona Resort & Casino in Phu Quoc, Vietnam has officially been extended until the end of this year.
According to a report from VietnamNet, the Ministry of Finance recently submitted to the government a draft decree amending Clause 2, Article 12 of Decree No. 03/2017/ND-CP on casino business to extend the trial. The draft also provides any other casinos deemed suitable for a locals trial with a three-year trial period from the date they receive their Certificate of Eligibility.
At present, two locations, Phu Quoc in the south and Van Don in the north, have been approved to allow locals gaming although only Phu Quoc’s Corona is open for business. The property opened in January 2019 but its initial trial period was heavily impacted by the COVID-19 pandemic.
It has also been reported that Corona Resort & Casino has run at a loss since launch, generating revenues of just VND2.2 trillion (US$89 million) in 2023 and struggling to attract locals. Reported losses last year totaled VND 3.72 trillion (US$149 million).
According to VietnamNet, the property’s results will be properly examined by 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 the local People’s Committee upon completion of the trial to determine whether the trial should continue. If the government does not issue a resolution by the end of the trial period, the casinos involved will temporarily suspend allowing Vietnamese citizens to play, it adds.
The government previously conducted a review and assessment of Corona Resort & Casino’s performance between January 2022 and August 2023 following completion of the initial three-year trial period, with the Ministry of Finance submitting its proposal to the Prime Minister in June of this year to amend and supplement the casino law.
There are currently nine licensed casinos in Vietnam including three large-scale integrated resorts: Corona, whose casino is open to locals, plus The Grand Ho Tram and Hoiana, whose casinos are foreigner-only.
