Vietnam’s casino sector entered a new phase this week as The Grand Ho Tram officially opened its gaming floor to qualified Vietnamese citizens. The change, which took effect on Monday, marks the first time the coastal resort has allowed local participation since launching operations more than a decade ago, ending its long-standing foreigner-only policy under a government-approved pilot program.

Casino operations at The Grand Ho Tram started welcoming Vietnamese guests around midday on Monday, according to industry sources cited by Inside Asian Gaming. Approval from Vietnam’s central government came slightly more than a month earlier, clearing the way for the resort to join a limited group of properties permitted to admit local players. With this move, Ho Tram became the second casino in the country operating under a locals-access framework, alongside Corona Resort & Casino on Phu Quoc island.

The resort confirmed that all tables and slot machines on its main gaming floor became available to local patrons from the first day of the policy shift. The updated access forms part of a refreshed and expanded pilot scheme issued by the government on November 26, extending local gambling permissions to three casino developments nationwide. While Corona Resort & Casino previously operated under a similar program launched in 2019, that arrangement expired on January 1, 2025. The Ho Tram opening therefore restores a domestic gaming option in southern Vietnam while regulators continue to evaluate the broader policy.

Currency Change and Operational Adjustments

Alongside opening its doors to Vietnamese citizens, The Grand Ho Tram implemented another operational change by switching betting denominations to the local currency. Previously, wagers were primarily handled in U.S. dollars. From Monday, all mass gaming floor activity now uses Vietnamese dong.

According to the venue’s website, the casino operates around the clock and occupies roughly 5,000 square meters of gaming space. That area includes about 90 table games and more than 500 electronic gaming machines. The property sits approximately two hours by car from Ho Chi Minh City, positioning it within reach of a large urban population.

Ownership of The Grand Ho Tram rests with U.S.-based private equity firm Warburg Pincus LLC. The firm acquired a majority stake in the resort’s parent company, Asian Coast Development Ltd, in July 2019 after Harbinger Capital exited its investment. A new management team followed in early 2020, led by casino executive Walt Power.

Expansion Plans and the Broader Policy Context

The Ho Tram resort first opened in 2013 with an initial investment of US$500 million. Developers have outlined long-term plans to build the property into a US$4.2 billion integrated resort featuring up to 9,000 hotel rooms, villas, retail areas, and an 18-hole golf course. While the casino, golf facilities, and some accommodation have operated for years, the resort recently began work on a US$1 billion expansion covering 35 hectares. That project will add a five-star hotel complex, luxury villas, entertainment facilities, and a convention and exhibition center.

During the expansion’s groundbreaking ceremony earlier this year, Walt Power said, “We firmly believe that Ho Tram will not only be Vietnam’s leading integrated resort destination but will also be able to compete with top regional destinations such as Singapore, Manila, and Macau, particularly as we work closely with authorities at all levels to explore new growth drivers.”

Government policy discussions around local casino access gained momentum after the mixed outcome of the Phu Quoc pilot. The Ministry of Finance has proposed allowing Vietnamese citizens who meet set conditions to gamble at Ho Tram and the planned Van Don Integrated Casino & Tourism Complex for five years from the start of operations. Van Don, located in Quang Ninh province and developed by Sun Group, has received approval in principle but is not expected to open until 2032.

Together, Ho Tram’s immediate participation and Van Don’s longer-term development provide regulators with two contrasting test cases as Vietnam continues to assess the role of local players in its casino industry.