Royal International inches closer towards positive figures

Royal International Corporation has reported its best quarter in three years.
Royal International Corporation has reported its best quarter in three years.

The Vietnamese casino operator Royal International has reported a loss of VND457m for the second quarter of the year.

Vietnam.- Royal International Corporation (RIC), which operates a casino in Vietnam’s northern province of Quang Ninh, has shared its financial results for the second quarter of the year. It’s posted its 11th consecutive quarterly loss.

However, with a loss of VND457m (US$19,525), it was RIC’s best quarter in nearly three years. In the same quarter last year, the company had posted a record loss of VND18.4bn. Revenue nearly doubled year-on-year to VND41.5bn as tourists began to return following an easing of Covid-19 countermeasures.

Vietnam fully reopened its borders on March 15. Since May, it is no longer demanding that foreign arrivals be tested for Covid-19 prior to entry.

This year, RIC hopes to end three consecutive years of losses with a profit of $500,000. In the first six months of the year, the company has already reached a third of its goal. In the first quarter, it reported revenue of $1.2m and a loss of $1.1m.

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land-based casino Royal International Corporation