According to recent government reports, Vietnam has extended the trial period that permits its residents to play at specific casinos until December 31, 2024. A small trial project was initiated at the Phu Quoc casino to test whether locals can dip their toes into the casino gambling world. Who knew they were missing out on all the entertainment reserved for visitors only? Thanks to this solution, guests will be able to feel like part of the gaming world, remembering the popular GG Bet casino, which gave not only a decent GG Bet casino bonus but also the maximum number of bright entertainment for every taste.
Information On The Prolonged Trial’s Financial Results
The Phu Quoc casino’s three-year trial period will begin when they acquire their operational certifications; other casinos’ pilot initiatives, which were initially scheduled to terminate by 2022, have been extended.
The Ministry of Finance and a number of other governmental organizations are conducting a continuous review that will be very important in deciding whether to continue, modify, or discontinue the trial after 2024.
Since opening in January 2019, the Phu Quoc casino has had a mixed track record regarding finances.
- Between 2019 and 2023, the casino’s revenue increased to VND 6.4 trillion (about 8 million).
- Nevertheless, it also suffered a large loss of VND 3.72 trillion (around 150 million), mostly as a result of high financing expenses and depreciation.
- In spite of these financial difficulties, throughout the same time period, the casino has given the state budget close to VND 3.69 trillion ($148 million).
According to Vietnamnet, the casino has drawn in around 295,943 Vietnamese players, or 62% of its whole clientele. These gamers span from 21 to 97 years old, which is a wide range if I do say so myself. This information is not merely for display. It is really important to determine the future of Vietnam casinos’ management.
Simultaneously, the Ministry of Finance has filed a draft decree to change the laws governing the casino industry. It particularly extends until the end of 2024, the trial period for casinos that accept Vietnamese gamblers.
Future Prospects And Larger Repercussions
Vietnam is itching to establish a swanky integrated resort industry that not only boosts tourism but also pumps up employment and income as part of its grand economic scheme. However, extending the trial term also highlights the hard balancing act that must be done between satisfying regulatory concerns and gaining financial gains. Vietnam’s casino industry may change in the future depending on how the Phu Quoc experiment and related initiatives turn out.
In accordance with this extended trial, Politburo has approved extending the Phu Quoc casino project till year-end and starting a three-year trial for the Van Don casino once it opens for business, according to Asia Gaming Brief. This project continues to be a major force in Vietnam’s developing gaming industry. It assiduously merges with the thriving travel and entertainment sectors. The observant ministries will pay great attention to the trial’s developments.
