The Corona Resort & Casino on Phu Quoc Island in Vietnam, which started its pilot in 2019, has announced on its website the decision to suspend the pilot. The resort expressed its "deepest gratitude" to its customers and prides itself on being "the first enterprise allowed to pilot the participation of Vietnamese citizens in casino games."
Starting from midnight on December 31, Vietnamese gamblers will no longer be eligible to gamble in the casino. The notice indicates that this is a temporary ban, "until further notice... regarding the termination or continuation of this pilot program."
This suspension does not affect international customers and Vietnamese nationals holding foreign passports.
In 2016, the Politburo approved casino pilots on two islands: Phu Quoc in the southern coastal province of Kien Giang and Van Don in the northeastern Bai Tu Long Archipelago.
The Corona Resort opened in January 2019. It is a project of the Phu Quoc Tourism Investment and Development Joint Stock Company, with an initial investment of 50 trillion Vietnamese dong (£1.7 billion/€2 billion/$2.15 billion).
The Van Don Casino is still in planning. This means that the Corona Casino will be the only casino in Vietnam that allows locals to gamble under specific conditions. Locals must prove that their monthly income is at least 10 million Vietnamese dong. They must also pay an entrance fee of 1 million Vietnamese dong per day or 25 million Vietnamese dong per month.
This three-year trial was originally scheduled to end in 2022. However, due to the impact of the COVID-19 pandemic, the Ministry of Finance requested an extension, which affected the results.
This year, Phu Quoc Island is expected to welcome 6 million visitors. According to the Kien Giang Provincial Tourism Bureau, this number represents a 49% increase from 2019. The resort paradise known as Pearl Island has seen a significant increase in the number of foreign visitors—nearly 1 million this year, compared to 671,000 in 2019.
However, so far, these numbers have not translated into success for the Corona Resort and Casino. According to Vietnam Biz, despite an increase in total revenue, the operator reported a loss of over 300 billion Vietnamese dong in the first half of 2024. Analysts point out that depreciation, high interest expenses, and player outflow are the reasons for the losses since the lifting of COVID restrictions in 2023.
However, the new year may see a reversal of fortunes. According to the Saigon Times, Phu Quoc Island's favorable visa policies, affordable entertainment activities, convenient transportation, and natural beauty are appealing. In November, Travel + Leisure magazine rated the island as one of the top 25 travel destinations for 2025. Condé Nast Traveler magazine also gave a similar rating, listing Phu Quoc Island as the second-best island in Asia, just behind Thailand's Koh Samui.
Additionally, according to the Youth Newspaper, there are currently 274 tourism projects in preparation on Phu Quoc Island, with a total value of 388.41 trillion Vietnamese dong. Clearly, the island's only casino operator hopes to soon welcome locals again. It promises to "provide all benefits for Vietnamese customers" and notify them when the ban ends.
The online statement concluded: "Phu Quoc Island's Corona Resort & Casino firmly believes that with appropriate adjustments, we will soon resume operations, serve our esteemed customers and partners, and create meaningful value in the future."
