Vietnam super tourism integrated resort complex opens
A Vietnamese real estate development giant has launched its much awaited $2.8 billion resort in Phu Quoc.
Inside Asian Gaming reports that Phu Quoc United Centre, located in the northern part of the island and described as a “super tourism resort entertainment complex” opened last Wednesday, covering more than 1,000 hectares and provides around 12,000 hotel rooms across a number of five-star hotel brands.
The facility includes Vietnam’s largest theme park, VinWonders Phu Quoc, plus an animal conservation park, 18-hole golf course, a shopping and entertainment precinct, multimedia shows, 24-hour street markets and a hospital.
The development also includes Corona Resort and Casino, which opened in January 2019 and is still the only casino in Vietnam at which locals are allowed to gamble.
“With a diverse ecosystem to meet high quality life in addition to a large-scale and world-class entertainment industry, Phu Quoc will not be merely an entertainment complex but a top resort, business and luxury product in Vietnam,” VinGroup said in a recent statement.
The launch of VinGroup’s new Phu Quoc resort comes shortly after one of its subsidiaries, leisure and hospitality firm Vinpearl announced a proposal to build a new $2.2 billion integrated resort, including a casino, on Hon Tre Island in Khanh Hoa Province.
If approved, the development would also offer a 1,200 room five-star hotel, convention centre and a transportation system, plus preparation of an area for development of more five and six-star hotels.
Vietnamese casinos call for more local players
Casinos in Vietnam are calling on the government to allow locals to enter their establishments to make up for a loss of foreigner income due to the coronavirus pandemic.
Retail News Asia reported in March that a group of casino owners recently petitioned authorities that their facilities in major travel destinations such as Quang NAm and Ba Ria should be allowed to take advantage of domestic demand.
They said their revenues have plummeted due to the lack of foreign visitors and flight restrictions.
Only two casinos, one on the southern island of Phu Quoc and the other in Van Don in the northern province of Quang Ninh are allowed to admit locals.
The government has long treated gambling as a “social evil” and prohibited Vietnamese people from entering casinos.
In January 2019, it began a three-year trial to open certain casinos to locals, but the program does not specify the list of real money casinos and licenses are instead given on a case-by-case basis.
Vietnamese citizens who want to gamble in a casino must be over 21, earn a minimum of $430 a month and have no criminal record or objections from their family.
The entry fee is $43 for a day and $1000 for a month.
Vietnam has eight casinos, which entered total revenues of about A$140 million in 2019, according to Ministry of Finance data.
At Casino Corona in Phu Quoc, the first to allow local entry, Vietnamese gamblers accounted for 45 per cent of gamblers in 2019.
Donaco settles Star Vegas dispute
Australian casino operator Donaco International has confirmed the conclusion of its dispute with Cambodia’s Star Vegas Casino.
Yahoo Finance reported in January that the dispute, originally announced on March 3, 2020, has concluded.
The accounts for the six months ending December 31, 2020 will fully reflect the positive outcome in accordance with the terms of the settlement, the report said.
In addition, as detailed on December 18, 2020, the business has continued to improve to a positive EBITDA as impacts from coronavirus have moderated from earlier extreme levels.
The company’s debt has been reduced significantly and a solid platform for growth is now emerging, it said.
Donaco’s largest business, Poipet’s Star Vegas Casino and Resort, on the Thai-Cambodia border, was established in 1999 and is the largest and highest quality of the Poipet hotel casinos.