Vietnam’s Ministry of Planning and Investment has presented a proposal to the Prime Minister regarding the construction of a casino resort project in Van Don, Quang Ninh Province.
Local media sources report that the project is anticipated to cost around US$2.18 billion and will include a high-end hotel, casino, and other tourist amenities. The plan aims for a potential launch date of 2032.
If authorized, the casino would be one of only two gambling establishments in Vietnam where locals can gamble, as part of a government initiative announced in 2016. The other property, Corona Resort & Casino in Phu Quoc, commenced operations in early 2019.
According to the Ministry of Planning and Investment, the proposed casino could yield an average annual after-tax profit of VND8.16 trillion ($336 million). It is estimated that the casino would reach its break-even point within 32.8 years of operation. Over the first 70 years, it could contribute VND228,000 billion ($9.4 million) to the state budget and create employment for around 6,000 people.
The Quang Ninh People’s Committee expressed its intention earlier this year to initiate the bidding process for development and operation of the facility by the end of 2023, pending government approval.
