Vietnam Casino projects – What you need to Know Before You Go

Vietnam’s Casino Renaissance: A Multi-Billion Dollar Boom Unveiled

The allure of casinos in Vietnam has transcended its international appeal, as the doors swing open to Vietnamese citizens. Real estate giants are now investing billions in multi-faceted casino projects, sparking a new era of fierce competition, particularly along the captivating Central Coast.

Central Vietnam’s Casino Resurgence

While the casino landscape in Vietnam is often dubbed “the unexplored billion-dollar gold mine,” only eight licensed casinos currently operate in the country. The Ho Tram casino stands out as the largest, yet many grapple with financial challenges. Nevertheless, experts remain optimistic about the casino business in Vietnam, projecting a market potential of up to $1.2 billion annually, now that Vietnamese citizens are eligible to gamble.

This optimism explains the substantial investments by real estate giants in resort projects, complete with casinos. The Central Coast, with its tourism advantage, has become a hotspot for such ventures. Locations like Da Nang, Van Don, and Phu Quoc are particularly targeted.

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Da Nang, emerging as Vietnam’s busiest tourist city, boasts a string of resort real estate from Hue to Hoi An. Its strategic location, connecting to UNESCO cultural heritage sites, pristine beaches, and vibrant experiences, contributes to the region’s robust tourism growth.

Current Landscape of Vietnam’s Casino Market

According to the Ministry of Finance, there are presently eight enterprises engaged in the casino business in Vietnam, collectively hosting 408 licensed tables and 4,579 licensed machines. Notable projects include Ho Tram (180 licensed tables & 2,000 licensed machines) and Nam Hoi An (140 licensed tables & 2,000 licensed machines).

Da Nang, in particular, features the Crown International Club hotel, offering a casino service with a main gaming floor hosting 122 machines and 22 tables. The Crown International Club plans to expand further, providing approximately 1,100 hotel rooms and additional recreational facilities.

New Decree, New Opportunities

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The Vietnamese government issued a decree in January 2017 that brought renewed prospects to the casino industry. This decree introduces strict regulations on players, minimum investment requirements for casino projects, and elevated standards aligning with international norms.

Investment capital dictates the number of gaming tables and machines a project can operate. The government allows one gaming table and ten gaming machines for every $10 million invested, with a minimum total investment of $2 billion for a project.

The decree also introduced a three-year pilot program allowing Vietnamese citizens with regular incomes of VND 10 million per month to participate in casino gambling.

Giants Under Construction

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South of Da Nang, the Hoiana project is a colossal endeavor spanning 165 hectares along the coastline. Developed by Suncity Holdings, VinaCapital Group, and VMS Hong Kong, the first phase includes a New World Hotel, 100 Rosewood Residences, a golf course, and a casino with 140 gambling tables. The second phase, featuring additional hotels, a water park, retail center, and lagoon, is expected to open in 2023.

North of Da Nang, the Laguna Lang Co resort complex is undergoing expansion, including additional hotels, a casino entertainment center, and 1,300 rooms. The development model here differs from the high-rise investments in Hoiana and Crown International, creating a diverse entertainment destination.

Laguna Park Homes Lang Co Da nang city

In the heart of this casino boom, Central Vietnam is poised to shine brightly on the world’s casino map, creating an enticing and dynamic entertainment destination. The strategic combination of hotels, resorts, commercial areas, water parks, shopping centers, and casino complexes positions Central Vietnam as a formidable player in the global casino industry.

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