A casino resort may be built in Vietnam

Vietnam’s Ministry of Planning and Investment plans to build an integrated casino resort in the Van Don Special Economic Zone. The casino will cost $2.2 billion, and if the project is approved, then work will be completed by the third quarter of 2032.

This project was decided to be implemented thanks to the cooperation of the ministry and the People’s Committee of Quang Ninh Province, where the Van Don economic zone is located. This initiative was first announced at the end of 2018.

The Ministry of Finance of Vietnam notes that only projects with investment capital equal to or exceeding $2 billion will receive a gaming license. The new complex will be one of only two casinos in the country that will be able to serve local residents. The bidding process for the project, which has been submitted by the government, will begin by the end of this year.

If the project is approved, the average annual revenue from the casino will be $336 million. After 32.8 years of operation of the facility, a break-even point is expected. And over 70 years, the casino-resort will replenish the state budget by $9.4 million. Also, 6,000 people will be able to find employment. To approve the project, the consent of the Prime Minister of Vietnam, Pham Minh Trinh, is required. Then construction will begin next year.