Financial filings from Phu Quoc Tourism Development and InvestmentJSC show its Corona Resort & Casino Phu Quoc posted accumulated losses exceeding VND5.8 trillion (US$220 million) by the end of 2025, widening by more than VND900 billion ($34.14 million) from a year earlier.
The government permitted Vietnamese citizens meeting certain criteria to enter casinos at the Phu Quoc complex and Ho Tram Casino from November 26, 2025, while a planned casino project in Van Don has yet to be completed and licensed.
Despite continued losses, casino operators have made notable contributions to the state budget, with the Phu Quoc complex alone paying more than VND4.1 trillion ($155.54 million) between 2019 and 2024, according to the Ministry of Finance.
Visitors to Phu Quoc Island, southern Vietnam often purchase tickets at the Corona Resort & Casino Phu Quoc entertainment complex. Photo: B.N.
Vietnamese players accounted for about 52 percent of total gamblers during the 2019–24 pilot period but generated roughly 88 percent of casino revenues, the ministry said, citing high initial investment and depreciation costs as key drivers of losses.
The Ho Tram casino has also reported persistent losses in recent years, prompting its investor to seek an extension of the project completion deadline to December 2027.
Industry experts say integrated casino resorts remain a major draw for tourism, combining gambling with hospitality and entertainment services.
Among those destinations, Phu Quoc welcomed more than 1.8 million visitors in the first quarter, up over 25 percent year-on-year, many of whom opted for all-in-one resort experiences.
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