COVID Resorts & Casino on Phu Quoc Island (pictured), Vietnam’s first and so far only tourist complex to be allowed to serve economically qualified locals, saw gaming revenue rise 45.7% year-on-year to nearly 2.2 trillion dong ($89 million) in 2023, contributing 1.2 trillion dong to the national government budget.
The finance ministry cited a recent report to parliament and a Q&A from parliament, according to the state-run Vietnam News Agency. Local contributions to the 2023 revenue of Phu Quoc properties were minimal, the report said.
The agency account said the “ticket revenue” of Vietnamese attending COVID resorts & casinos in 2023 exceeded VND 32 billion and reached VND 242 billion from 2019 to 2023.
The report also said 295,943 visitors to Vietnam accounted for “62% of all players” from 2019 to the end of 2023, when COVID Resorts & Casino was first allowed to host local players in a trial run, while 179,507 foreign visitors accounted for “38% of all players.”
The report added that in 2020 and 2021, the impact of the COVID-19 pandemic led to a higher proportion of Vietnamese visitors, which led to a decrease in foreign tourism to Vietnam.
The percentage of Vietnamese players in 2023 is said to be ‘39% of total visitors’.
In October 2022, the government of Kiyengang province, which has jurisdiction over Phu Quoc, reportedly asked the Treasury to extend the rights of local services at Corona Resorts & Casino by three years until January 7, 2025, under the pilot scheme.
Monday’s article said the Foreign Ministry reported to the Vietnamese Politburo about the results of the test plan in August 2023. The report added that the ministry was “a process of asking for instructions from the Politburo” on the subject.
Separately on Sunday, local news outlet VietNamNet Global indirectly cited Vietnam’s Finance Minister Ho Duc Phoc as commenting on the possible direction of the pilot scheme.
The outlet said the Foreign Ministry “has no plans to allow Vietnamese to go to casinos in large numbers, and other casinos will not get permission to accommodate Vietnamese right away.”
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