Corona Resort and Casino opens doors in Phu Quoc to become Vietnam’s first casino to allow locals to gamble
Vietnam’s first casino to allow locals to gamble opened doors this weekend in Phu Quoc, known to be the country’s largest island.
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The property was built by Phu Quoc Tourism Investment and Development Jsc., a company half-owned by Vietnam’s largest conglomerate,Vingroup. The developer invested more than $2.1 billion into the luxury hotel and casino resort.
Aside from foreigners, Corona Resorts and Casino will also admit locals to its gaming floor. While casino gambling is legal in Vietnam, residents of the country have been banned from gambling at its existing facilities for years.
Under a new, government-endorsed program, the Phu Quoc-based casino will allow locals to enter its premises and gamble during a three-year trial period. The three-year program aims to help Vietnamese lawmakers determine whether residents should be allowed to gamble at local casinos permanently.
Corona Resorts and Casino allows only people aged 21 or over to gamble at its gaming floor. There is also an entry fee for residents of the country. A 24-hour pass costs VND1 million (approx. $43), while a monthly pass is worth VND25 million (approx. $1,000).
Locals are not allowed to gamble more than 720 hours a month.
The property features a 30,000-square-meter casino floor with more than 200 gaming tables and well over 2,000 slot machines.
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The casino will be open 24/7 during the three-year trial period. Vietnamese passport holders will be allowed to gamble if their minimum monthly income is VND10 million (approx. $430) and have no history of criminal offenses.
Another Casino Project
News emerged late last year that Vietnam’s coastal province of Quang Ninh is seeking permission to build a $2-billion resort with a casino that will allow locals to gamble. The property will be built in the Van Don district, which has been looking to attract investment and become a major tourism and industrial boon.
According to initial plans, the Van Don casino resort will spread over 2,500 hectares of land and will be built and launched in several phases, with phase one hoped to become operational in the first quarter of the year. The major complex is projected to be completed and fully operational by 2022.
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Developers aim to secure a 50-year gaming license for their property. As mentioned earlier, the property, if approved, will too be part of the government’s three-year trial program and will admit Vietnamese passport holders to its gaming floor.
According to early projections, once fully operational, the resort will inject VND250 billion (approximately $11 million) into the nation’s economy every year.
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