Vietnam Approves $2 Billion Integrated Casino Resort in Van Don

Deputy Prime Minister Tran Hong Ha officially approved Vietnam’s largest tourism-gaming investment to date on June 27. The $2 billion integrated casino resort is set to launch in Quang Ninh’s Van Don. According to VN Express, the project will operate for 70 years.

The Finance Ministry presented the IR proposal in late May 2025 after the Planning Ministry’s endorsement in 2023. Quang Ninh was chosen as the designated site for a public bid in April 2024. Construction is slated for nine years once the land transfer is completed, targeting VND4.35 trillion annual net profit and VND8.2 trillion post-tax returns.

Project Details

Spanning 244 hectares in Van Don Economic Zone’s Van Yen commune, the development allocates 182 hectares for facilities, including a casino, luxury hotels, villas, entertainment venues, and landscape parks. 62 hectares of protected and production forests remain untouched under Vietnam’s forestry laws. They are excluded from leased land and managed under existing environmental regulations.

Envisioned as a premier luxury hub integrating tourism, hospitality, and gaming, the complex targets global upscale travelers and major events. Construction will unfold in three phases over nine years, backed by VND7.7 trillion (US$302 million) in equity, with remaining funds expected from loans:

• Phase 1 (VND25.1 trillion): 2023 – 2027
• Phase 2 (VND22.08 trillion): 2027 – 2031
• Phase 3 (VND4.3 trillion): 2031 – 2032

Economic Outlook

The Van Don resort is projected to employ around 6,000 staff and positively impact the local and national economies. Forecasts indicate average annual post-tax profits of approximately VND8.16 trillion (US$312.7 million), with total tax contributions exceeding VND228 trillion ($9.6 billion) over its 70-year operational span. These figures cover corporate and value-added taxes.

Financial analysis suggests a 33-year breakeven period, after which net profits could reach VND4.35 trillion (US$167 million), reinforcing its role as a long-term regional economic anchor.

However, the access to casinos for Vietnamese nationals remains undetermined. While the Finance Ministry proposed extending Phu Quoc’s local-gambling pilot program to Van Don, government approval is pending.

Development Initiatives

Quang Ninh authorities will oversee a public tender to select the resort investor, while the Economic Zone Management Board develops worker housing and essential community facilities. Planners are directed to allocate land for sports and cultural venues serving residents and tourists alike.

The project aligns with Van Don’s 2030 vision to become a diversified marine economy by leveraging existing infrastructure like Van Don International Airport, the Ha Long-Van Don-Mong Cai expressway, and Ao Tien seaport.