Vietnam Proposes $2.18 Billion Casino Resort in Van Dom, Quang Ninh Province

The Ministry of Planning and Investment in Vietnam has presented a proposal to the Prime Minister for the development of a casino resort project in Van Don, Quang Ninh Province. Estimated at around $2.18 billion, the project envisions a luxury hotel, casino, and additional tourism facilities, with a targeted launch date in 2032.

If approved, this casino would be one of only two gaming establishments in the country allowing locals to participate in wagering activities, aligning with a government initiative announced in 2016. The first of these establishments, the Corona Resort & Casino in Phu Quoc, commenced operations in early 2019.

The Ministry of Planning and Investment highlighted the potential economic impact of the proposed project, projecting an average annual after-tax profit of VND8.16 trillion ($336 million). The casino is expected to break even within 32.8 years of operation. Over its initial 70 years, the facility could contribute VND228,000 billion ($9.4 million) to the state budget and offer employment opportunities for approximately 6,000 individuals.

The Quang Ninh People’s Committee expressed its intent to initiate the bidding process for the development and operation of the facility by the end of 2023, contingent on securing government approval.

This proposed casino resort in Van Don signifies Vietnam's strategic move to bolster tourism and economic growth, with potential significant financial contributions and job opportunities for the region if the project gains approval.

By fLEXI tEAM