In the report sent to the National Assembly delegates to prepare for the questioning session at the Standing Committee of the National Assembly on March 18, Minister of Finance Ho Duc Phoc provided specific information about casino business activities.
According to the report, in 2016, the Politburo allowed the pilot permission for Vietnamese people to play at casinos in Phu Quoc and Van Don. However, only the casino project in Phu Quoc started operating in January 2019.
Specifically, at the Phu Quoc casino facility, the accumulated revenue from 2019 – 2023 reached VND6,404 billion, contributing VND3,679 billion to the state budget. Specifically in 2023, the Phu Quoc casino reported revenue of VND2,180 billion, contributing VND1,230 billion to the state budget. These figures showed a remarkable growth compared to 2022, with a 45.7% increase in revenue and a 68.9% increase in state budget contributions.
In regards to entrance fees (for Vietnamese people), the revenue in 2023 reached over VND32.2 billion, with an accumulated revenue from 2019 to 2023 reaching VND242 billion.
Regarding the number of visitors to the casino, from 2019 to the end of 2023, Vietnamese visitors accounted for 295,943 individuals (accounting for 62% of the total number of players), while foreign visitors accounted for 179,507 individuals (accounting for 38% of the total number of players).
The Casino Phu Quoc has been in operation since January 2019. Vietnamese visitors account for 62% of the total visitors from 2019 to 2023. Illustrative photo.
Vietnamese Visitors to the Casino: 51% Male, 49% Female
The age range of Vietnamese visitors to the Phu Quoc casino is from 21 to 97 years old. The most common age range is 39 with 1,786 visitors; among them, males account for approximately 51% and females account for approximately 49%.
In terms of management and supervision, the Ministry of Public Security and the People’s Committee of Kien Giang province have conducted inspections on security and order. According to their evaluation, from the start of casino operations in Phu Quoc until now, the casino has basically complied with the regulations and conditions regarding security and order.
According to Minister Ho Duc Phoc, the Party Central Committee of the Ministry of Finance is reporting to the Politburo, requesting permission to continue the pilot program allowing Vietnamese people to play at the casino, following a cautious approach, and initially focusing only on Phu Quoc and Van Don without expanding the pilot program to other casino projects.
Currently, there are 9 casino projects in operation. In addition, there are 2 projects that are under construction following the legal provisions on investment but have not yet started casino operations due to the impact of COVID-19, which has caused delays and difficulties in negotiating and selecting partners and managing casino operations.
In September 2022, the Ministry of Finance recommended that the Government report to the Politburo to extend the pilot program at the Phu Quoc casino (Kien Giang) for an additional two years until January 2024. During the pilot period, in addition to the Phu Quoc and Van Don casino projects (which are in the process of seeking investment approval and are expected to go through the bidding process to select investors), the pilot program will not be expanded to allow Vietnamese players at other locations.
During the same period, the Ministry of Finance proposed to supplement casino business activities with two projects: Sun World Ba Na Hills Resort (Da Nang) and a comprehensive service, tourism, and entertainment complex with a casino on Hon Tre Island (Khanh Hoa) for foreign visitors.
According to regulations, to be allowed to play at domestic casinos, specifically in Phu Quoc, players must meet certain conditions, including being 21 years of age or older; having a regular income of at least VND10 million per month or being a person subject to personal income tax from the 3rd bracket or higher. Players must purchase a casino entrance ticket for VND1 million per 24 hours per person or VND25 million per month per person.
The Phu Quoc casino is part of the Corona resort – dining – entertainment complex. This complex has an area of over 18,000 square meters, with over 3,000 hotel rooms ranging from 3 to 5 stars, a variety of world cuisine restaurants, an 18-hole golf course, the VinWonders amusement park, and the non-sleeping city of Grand World…
