Growth of Vietnamese casinos in on rise
The largest casino in the northern province of Vietnam Quangninh is again in the black. Royal International Corporation, managing the Royal Casino, said that casino revenue increased by 48% year on year. Profit after tax was $731,263.
Operations related to casino gambling in the northern province of Vietnam brought in $7.66 million in profits.
The development of casinos and revenue growth are due to the influx of tourists, which, in turn, provides a new traffic intersection, opened in September last year. Expressway reduces travel time by half.
In addition, Royal Casino has worked hard to reduce operating expenses. According to the company, last year they've managed to save $688,192, reducing the cost of sales and management. However, partly a source of savings was the dismissal of 80 employees.
The reliability of gambling establishments in Vietnam also at a high value. Revenue growth of 48% is impressive, but the recently opened casino on Phu Quoc Island, according to experts, can surpass these figures. A special feature of Corona is that this is the first casino in the country that can be visited by local residents.
Permission to visit casinos by locals is part of a pilot program approved by officials in 2017. The program will operate only two casinos. Visitors, however, have strict requirements.
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