Vietnam Invites Bids for Management of $2.2B Casino Resort in Van Don

The Vietnam government is preparing for its planned $2.18 billion integrated resort and casino in the Special Economic Zone of Van Don in the Quang Ninh Province. This initiative, first announced in 2017, aims to attract interest from potential casino operators.

The Ministry of Planning and Investment revealed that the casino destination will be a significant undertaking, expected to generate an annual tax benefit of $336 million. The development partner and management firm for the project will be selected through a competitive bidding process.

The Van Don casino resort will complement the Corona Resort & Casino in Phu Quoc City, which opened in 2019. The Kien Giang Province casino boasts 1,000 slots and 100 table games, alongside numerous luxury amenities and entertainment facilities.

The Van Don project is strategically located near the China border to cater to Chinese tourists, as casino gambling is limited in China except for the Special Administrative Region of Macau. The integrated resort is expected to cover 550 acres and will take around nine years to complete, with an estimated opening date of 2032.

In addition to the resort and casino facilities, the budget will also include the construction of high-end residences. With Vietnam already home to eight casino resorts reserved for foreign passport holders and gross gaming revenue exceeding $600 million last year, the country’s gaming industry continues to grow.

The initiative comes at a time when Chinese government crackdowns in Macau are prompting some VIP gambling tour organizers to transfer business to other parts of their regional networks, such as Vietnam. This shift may lead to an increase in local gambling operators targeting Chinese high rollers, potentially affecting the established junket business.