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Vietnam is taking a bold leap forward with its gaming ambitions. The government has officially approved a US$2.16 billion integrated casino resort in Van Don, Quảng Ninh Province, aiming to transform the area into a world-class tourism and entertainment hub.

Located in Van Yen commune, near the famed Ha Long Bay UNESCO site, the mega project spans 244 hectares, of which 182 hectares will be developed and 62 hectares preserved as natural forest. The development will unfold in three phases from 2023 to 2032.

According to reports, Sun Group, Vietnam’s leading conglomerate known for Van Don International Airport and luxury resorts across the country, is expected to spearhead the project. The plan includes luxury hotels, entertainment facilities, and a casino designed to attract both international and domestic tourists.

“This project is not just a casino; it is an integrated development that will create thousands of jobs and boost regional tourism,” said a Sun Group spokesperson in local media coverage.

Financially, the development will require VND51.5 trillion (~US$2.16 billion) in total investment, with investors injecting VND7.7 trillion in equity and the remainder financed by banks. The three phases are planned as follows: Phase 1 (2023–2027) will see the largest spend at VND25.1 trillion, Phase 2 (2027–2031) at VND22.08 trillion, and Phase 3 (2031–2032) at VND4.3 trillion.

Crucially, the proposal seeks to revive Vietnam’s pilot program allowing locals to gamble, a contentious but strategic move to channel underground gambling into regulated avenues. The previous pilot at Corona Casino in Phú Quốc expired in late 2024. As Tim Nguyen, an industry consultant, noted in a recent interview:

“Allowing Vietnamese citizens to gamble under strict conditions is the way forward if Vietnam wants to compete with regional giants like Macau, Singapore, and soon, Thailand.”

Economically, the government estimates the project could contribute VND228.9 trillion (~US$9.67 billion) to national revenue over its 70-year license period, including taxes and fees, making it a key fiscal pillar for Vietnam’s future development goals.

However, challenges remain. The project is awaiting final endorsement from Prime Minister Phạm Minh Chính, and industry experts warn that clarity on regulatory frameworks and local access policies is essential for investor confidence. As Nguyen further explained:

“Without a clear stance on local gambling, developers and banks will remain cautious. Investors need assurance on returns, and locals are a major untapped market.”

Strategically, Van Don is poised to leverage its location within the Van Don Special Administrative Zone, with improved infrastructure and proximity to China, giving it a competitive edge in Southeast Asia’s integrated resort race.

Vietnam’s decision comes amid regional competition heating up, with Thailand advancing its casino legalisation framework and Japan progressing on its Osaka IR. The success of Van Don could set a precedent for Vietnam’s broader gaming reforms, potentially paving the way for additional integrated resorts with local access in the coming decade.

For now, the approval of Van Don’s integrated casino resort marks a pivotal moment in Vietnam’s economic development journey, with the potential to transform Quang Ninh province into a new tourism and gaming powerhouse.

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