Resort would be one of two that allow locals to gamble
Vietnam’s Ministry of Planning and Investment has submitted a report to the Prime Minister in relation to the development of a casino resort project in Van Don, Quang Ninh Province.
Various local media outlets report that the project is set to cost in the region of US$2.18 billion and will comprise a luxury hotel, casino and other tourism facilities. The proposal sets an estimated launch date of 2032.
If approved, the casino would be one of only two gaming properties in the country which would allow locals to place wagers as part of a government project which was announced in 2016. The other, Corona Resort & Casino in Phu Quoc, opened in early 2019.
The Ministry of Planning and Investment has stated that the potential economic impact of the project could see the casino generate an average annual after-tax profit of VND8.16 trillion ($336 million). The casino would reportedly break even within 32.8 years of operation. Within its first 70 years of operations the casino could contribute VND228,000 billion ($9.4 million) to the state budget and provide employment opportunities for approximately 6,000 individuals.
The Quang Ninh People’s Committee announced earlier this year that it hoped to begin the bidding process to develop and operate the facility by the end of 2023 if government approval is secured.
