Vietnamese finance minister reports results from casinos that accept locals
Revenue rose 45.7 per cent last year.
Vietnam.- Ho Duc Phoc, Vietnam’s finance minister, has reported that the pilot casinos that allow locals to gamble recorded cumulative revenues of VN$6.4tn (US$259.1m) between 2019 and 2023, contributing approximately VN$3.8tn (US$153.8m) to the state budget.
In 2023, revenue reached VN$2.2tn, up 45.7 per cent, and contributed VN$1.23tn to the state budget. However, the casinos incurred losses of more than VN$3.72bn (US$150,600) due to initial interest payments and depreciation costs.
The report sent to deputies of the National Assembly noted that from 2019 to 2023, Vietnamese customers made up 62 per cent (295,943) of total players, mainly due to the Covid-19 pandemic. However, Vietnamese players accounted for only 39 per cent of visitors in 2023.
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The Ministry of Finance is working on a new decree that may only grant licences to casinos that have large-scale service, tourism, commerce, and entertainment areas and a minimum investment of US$2bn.
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