Revenue totals for eight operational casinos in Vietnam have been reported, with the region showing a combined total of $107.4 million. This is an amazing 60% increase from 2019. The casinos were able to see an increase in profit thanks to the government lifting a restriction and allowing local residents to visit and gamble.
A Nice Revenue Increase
Five of the casinos are located in the northern portion of Vietnam. Two are centrally located and one is to the south. A total of $58 million was contributed to the coffers last year and this was an increase of 49%.
By allowing locals to gamble, Vietnam was able to increase revenues substantially. The Corona Resort & Casino in Kieng Giang was the first to allow local residents on-site. They enacted measures in January of last year. The facility was able to see 105,200 guests. Of that amount, around 45% were citizens of Vietnam. The casino was so successful, it captured almost 60% of the market.
Two Casinos Fall Short
While most of the casinos in Vietnam did well during the calendar year, two fell short in registering growth. Royal International Corporation runs a large casino in Quang Ninh. They saw a decline in revenues by 45% with only $4.2 million in earnings.
The Lao Cai facility known as the Aristo International Hotel Casino saw a much lower drop of 17%. They recorded earnings of $15.4 million.
Coronavirus Affect for 2020
While 2019 was a solid year for Vietnam casinos, 2020 may see a slight difference in revenue numbers. Like other areas of the globe, Vietnam shut down casinos in order to slow the spread of the coronavirus as the pandemic began to take shape.
The lockdown in Vietnam started on April 1 for non-essential businesses like casinos. By May though, venues were starting to reopen. It will not be until next year until we can see how the closure affected the overall yearly totals, once reports are finalized and released.