Royal International posts $1.1m loss for Q1
The Vietnamese casino operator Royal International has reported revenue of $1.2m and a loss of $1.1m for the first quarter.
Vietnam.- Royal International Corporation, the largest casino operator in the northern town of Ha Long, has reported revenue of $1.2m a loss of $1.1m for the first quarter.
It’s the sixth consecutive quarter that the HCMC Stock Exchange-listed company has reported a loss.
The majority of its customers are usually from abroad. During the Covid-19 pandemic, it has been receiving foreigners who are working in Vietnam and were unable to return to their countries.
Vietnam has strict restrictions on locals entering casinos. Royal International’s Royal Ha Long Casino is not allowed to offer gaming to Vietnamese citizens.
At present, Vietnamese citizens are only permitted to enter two casinos: one on the southern island of Phu Quoc and the other in Van Don, in the northern province of Quang Ninh.
In March, casino operators asked the government to expand Vietnamese citizens’ access to casinos to help casino operators face the loss of revenue from tourists owing to the Covid-19 pandemic. However, three months on the government has not yet responded.
