Vietnam's Finance Ministry approves two new casinos

The Ministry of Finance of Vietnam endorses Da Nang City and Khanh Hoa Province's plans to licence and develop two new foreign-only casinos in Southeast Asia.

At Da Nang City's entertainment and resort complex Sun World Ba Na Hills and Khanh Hoa Province's Hon Tre Island, casinos will be constructed.

According to the country's Ministry of Finance, both areas have tremendous potential to attract foreign tourists.

Khanh Hoa is creating a casino and resort complex, KN Paradise, near Cam Ranh. However, Da Nang presently has no significant casinos.

The ministry denied Binh Thuan's request to construct a casino and resort in the centre region of Vietnam. Due to the absence of a port or airport, the governing body has considered the region's tourist potential to be minimal.

In addition, the government has suggested extending a pilot programme enabling Vietnamese citizens to bet at Phu Quoc Casino until 2024.

Despite Vietnam's historical societal and political anti-gambling attitude, this is the case. The trial term at Phu Quoc Casino was set to expire at the end of 2021, but the Ministry will seek to prolong it owing to the severe impact of the coronavirus epidemic on Vietnam's casinos.

As a result of Covid-19, Phu Quoc Casino's revenue declined by 10 percent in 2021, after increasing consecutively in 2019 and 2020.

The provinces of Kien Giang, Quang Nam, and Vung Tau are home to three of Vietnam's nine exclusive-foreign-players casinos.

Recently, Gambling Insider chatted with Jit Ng, the CMO of Vietnam's Hoiana Integrated Resort, about his expectations for the country's gaming business and the enhancement of integration at the resort.

By fLEXI tEAM