Vietnam’s groundbreaking pilot program allowing its citizens to gamble at the Corona Resort & Casino on Phu Quoc Island has officially ended. The initiative, which began in 2019, was halted on December 31, 2024, with the suspension taking effect from midnight on January 1, 2025. The government has provided no timeline for its reinstatement.
A First for Vietnamese Gamblers
This trial marked a historic shift in Vietnam’s stance on gambling. Previously, locals were barred from casinos, which catered exclusively to foreign visitors. Under the pilot, Vietnamese citizens could gamble provided they met stringent criteria, including a minimum monthly income of VND10 million ($400) and payment of entry fees set at VND1 million ($25) per day or VND25 million per month.
The program aimed to assess whether legalizing local participation could help curb gambling tourism abroad and boost domestic economic growth. Initially set to conclude in 2022, the pilot was extended due to the disruptions caused by the COVID-19 pandemic.
- Entry requirements included proof of income and payment of fees.
- Corona Resort & Casino was the only venue authorized for local participation.
- The program was seen as a potential solution to Vietnam’s outbound gambling activities.
Financial Struggles Despite Growing Tourism
While the trial had its merits, it didn’t come without challenges. Corona Resort & Casino reported significant financial losses of VND300 billion ($12.7 million) in the first half of 2024. High operational costs, including depreciation and interest expenses, were compounded by a drop in local participants, contributing to these struggles.
However, the broader tourism landscape in Phu Quoc tells a different story. The island saw a sharp rise in visitors, hitting 6 million in 2024—a 49% increase compared to 2019. With substantial investments of VND388.41 trillion in its tourism infrastructure and favourable visa policies, Phu Quoc has emerged as a global travel hotspot. Esteemed publications like Travel+Leisure and Condé Nast Traveler have spotlighted it as a top destination for 2025.
A single paragraph here highlights Phu Quoc’s resilience, despite the casino’s financial issues.
The Future of Local Gambling in Vietnam
The conclusion of this pilot program has left the future of local participation in Vietnam’s casino industry in limbo. A second venue in Van Don, which was approved under the program, remains unopened. This has raised questions about whether the government will pursue similar initiatives or focus solely on foreign patrons in the long term.
The suspension doesn’t affect foreign visitors, including Vietnamese nationals holding foreign passports, who remain eligible to gamble at the resort.
Challenges and Considerations:
- Will the government explore alternative approaches to integrating locals into casino operations?
- How might economic pressures influence future policy decisions?
Optimism Amid Uncertainty
Despite the suspension, Corona Resort & Casino remains optimistic about the potential reinstatement of the program. In a statement, the casino expressed gratitude to its customers and hope for the future. “We firmly believe that, with proper adjustments, we will soon resume operations to serve our valued customers and partners,” the resort noted.
The casino’s commitment reflects broader optimism about the potential for casino gambling to play a role in Vietnam’s economic strategy. Whether through reintroducing the program or developing new models, the industry’s path forward will be closely watched.
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