Royal International inches closer towards positive figures

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.