Vietnam’s Royal Casino posts US$1m loss for Q2
Royal International Corp has reported its 15th consecutive quarterly losses.
Vietnam.- Royal International Corporation (RIC) has shared its financial results for the second quarter of the year. It posted a VND24bn (US$1m) financial loss, marking a 15th consecutive quarter of losses. Revenue was down 42 per cent year-on-year at VND24bn.
The company owns the country’s biggest casino, situated in northern Quang Ninh Province, and operates a hotel and villas in the Bai Chay resort area in Ha Long city. Its casino contributed VND9bn to the Q2 losses, while the hotel and villas accounted for VND14.5bn.
For the first half of the year, losses reached VND35bn. The company had set a target of a US$1.5m profit for the year. In the last decade, the company has only reported profits in two years: 2015 and 2018. Last May, the company’s shares were delisted from the Ho Chi Minh Stock Exchange.
In 2022, the casino operator posted a VND61bn (US$2.6m) financial loss. Revenue was up 60 per cent year-on-year at VND119bn (US$5.087m) but down from VND125bn (US$5.579m) in 2020.
