The Phu Quoc casino’s trial period has been extended until December 31.<\/p>\n\n\n\n\n\n\n\n
Vietnam.- The Vietnamese government has extended the trial period allowing local citizens to gamble at select casinos. The trial period at the Phu Quoc casino, the first and only Vietnamese casino that currently allows locals to enter, has been extended until December 31, 2024. Other casinos will have a three-year trial from the date they receive their Certificate of Eligibility.<\/p>\n\n\n\n
The Ministry of Finance, in collaboration with the Ministry of Public Security, the Ministry of Planning and Investment, the Ministry of Culture, Sports and Tourism, the State Bank of Vietnam and local People’s Committees\u00a0where casinos will be permitted to conduct a review to decide whether to terminate or continue the trial.<\/p>\n\n\n\n
Currently, there are nine casinos in Vietnam, six small-scale and three large. In 2023, they contributed VND2,541bn to the state budget and created approximately 8,500 jobs. According to Vietnamnet, the Phu Quoc casino generated cumulative revenue of VND6.4bn from 2019 to 2023, contributing VND3.6bn to the state budget. However, the venue recorded an accumulated loss of VND3.7bn due to high initial depreciation and interest costs.<\/p>\n\n\n\n
The casino was visited by 295,943 Vietnamese citizens (62 per cent of all visitors) and 179,507 foreign nationals between 2019 and the end of 2023. <\/p>\n","protected":false},"excerpt":{"rendered":"
The Phu Quoc casino’s trial period has been extended until December 31.<\/p>\n","protected":false},"author":176,"featured_media":25659,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Vietnamese government has extended the trial period allowing local citizens to gamble at the Phu Quoc casino until December 31, 2024, with other eligible casinos receiving a three-year trial. This decision follows a review of the casino sector's contribution to the state budget and employment, despite Phu Quoc casino's accumulated losses due to high initial costs.","focusai_entities":"Vietnamese government, Ministry of Finance, Ministry of Public Security, Ministry of Planning and Investment, Ministry of Culture, Sports and Tourism, State Bank of Vietnam, People\u2019s Committees, Phu Quoc casino","focusai_location":"Vietnam, Phu Quoc","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.9), operator_casino (1.0), investor_analyst (0.9), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GGR Projections?","query":"What are the updated GGR projections for the Vietnamese casino market, specifically factoring in the extended local access trial and the performance metrics of the Phu Quoc casino?"},{"label":"Governance Framework Evolution?","query":"Beyond the trial extension, what specific amendments or new governance frameworks are anticipated from the inter-ministerial review to ensure sustainable and compliant local citizen participation in the long term?"}],"footnotes":""},"categories":[28,16333],"tags":[23911,23907],"class_list":["post-777018508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-south-east-asia-news","tag-gambling-regulation","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777018508","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777018508"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777018508\/revisions"}],"predecessor-version":[{"id":777018536,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777018508\/revisions\/777018536"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25659"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777018508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777018508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777018508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}