Major $2 billion Vietnam casino proposed by the Ministry of Finance

A landmark Vietnam casino development has been proposed by the country’s Ministry of Finance, as part of a major economic development in the Quang Ninh province.

Known as the Van Don casino project, a luxury tourism resort is planned with a proposed investment of VND 51.5 trillion ($2.16bn).

Local sources detailed how the new Vietnam casino site would be located in an area covering 244 hectares, delivered in three phases. The main facility would operate under a 70-year license, supplemented by a high-end hotel and other entertainment offerings to attract international visitors.

Phase one is anticipated to run through to 2027 with the initial offerings, backed by an estimated investment of VND 25.1 trillion ($960m), then phase two (2027–31) with VND 22.08 trillion, and phase three (2031–32) with VND 4.3 trillion.

Over the 70-year term, the Van Don development is projected to contribute around VND 228.9 trillion ($9.67b) to the state purse, including VND 134.3 trillion corporate income tax and VND 94.5 trillion VAT.

Regulated gambling is not widespread in Vietnam (where illicit operations seek to fill the void), so this major proposal represents a revival of large-scale offerings, especially after the recent suspension of the country’s only dedicated local gambling pilot. 

A three-year programme concluded in December 2024, which permitted Vietnamese citizens to bet at the Corona Resort and Casino in Phu Quoc. 

That site allowed the government authorities to test the water, ahead of potential expansion for the country’s gambling sector, but no outcomes or succession projects have been confirmed to date.

Corona was notable as it was the only venue to permit local residents, subject to affordability and verification checks, but losses of around $150 are said to have accrued over its five years of operation. 

At this stage, it is unclear if the new Vietnam casino project would be open to domestic gamblers or if it will generally be exclusive to international tourists and invited guests.

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