Asia Business Channel

Vietnam opens its first casino that allows locals to gamble

  • A photo inside the Corina Casino

The Corona Casino, located in Phu Quoc Island, has become the first five-star casino in Vietnam that allows Vietnamese citizens to gamble. The casino’s operations were officially launched to much industry and media fanfare.

The casino is being allowed to have Vietnamese citizens as “customers” for a three-year test period, after which, the National Assembly will decide whether the temporary law should become permanent and allowing Vietnamese citizens the right to gamble will at any casino operating in the country.

Vietnamese who want to gamble in the casino can do so under these regulations:

• They must be an adult and have identification that confirms their age

• They need to have a regular income exceeding 10 million VND ($432) per month as monthly payroll and have bank documents confirming their monthly income

• They will need to pay an entrance fee of 1 million VND ($43.2) a person for 24 hours, which will be added to the budget of Kien Giang province.

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Artist’s rendering of the Corona Resort & Casino in Phu Quoc

Corona Resort & Casino is a $2.1billion USD complex, of which the first phase accounts for $1.05 billion USD. Casino operations will be managed by Upffinity Gaming Management, a Dutch international casino management company with experience in managing high-end casinos in Europe and Macao.

In addition to the casino, this complex also has a 5-star international hotel with 2,000 rooms and 10 seaside villas, a convention center, a theater, a shopping center, water parks, spas, and restaurants and bars. The resort and casino will create 1,500 new jobs and is expected to indirectly create thousands of other jobs in the province as well as with partners and other travel service providers nationwide.

The new casino is expected to be a destination for Vietnamese gamers who tend to gamble abroad, and will contribute to Phu Quoc’s tourism and economic development. Daniel Kupsin, CEO of Upffinity said: “The Corona Resort & Casino will not only help promote the tourism in Phu Quoc with high-end entertainment experience for both local and foreign visitors, but will also contribute significantly to the local and State budgets. Corona is the first casino for the Vietnamese and we have undertaken to cooperate with the Vietnamese management agencies to make the casino a success”.

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A photo inside the Corina Casino