Vietnam Greenlights $2B Van Don Casino Resort

The central government of Vietnam has formally approved the long-awaited development of an integrated resort in the Van Don Special Economic Zone, part of Quang Ninh province. The project aims to attract foreign and domestic tourists, bolster the local economy, and elevate Vietnam’s profile in the regional casino and luxury tourism landscape.

The Resort Marks a New Chapter for Vietnam’s Gambling Sector

The Van Don casino project, with its estimated minimum investment requirement of $2 billion, will occupy more than 244 hectares on Vietnam’s northeast coast. It will feature a large-scale casino, a cluster of high-end hotels, beachfront villas, and an exciting selection of water-based leisure activities. According to local news outlet VnExpress, the venue will strike a balance between development and nature preservation.

Quang Ninh provincial officials must first select a suitable investor. Earlier reports indicated that the chosen financial partner must personally contribute around $296 million, while bank loans or other private sources will supply the remaining capital. Once approved, the resort will operate on a 70-year license. Officials estimate construction will take roughly nine years.

The Vietnamese government has high hopes for the project, estimating it will generate an average post-tax profit of VND 8.16 trillion ($312 million) annually. Throughout its estimated operating life, the integrated resort would contribute a total of VND 228 trillion ($8.72 billion) to the Vietnamese state budget and create approximately 6,000 direct job opportunities.

The Venue Will Welcome Locals and Foreigners

Notably, the Van Don casino will be one of the few places in Vietnam where locals will be permitted to gamble, pending final policy approval. The Ministry of Finance is backing a pilot scheme that will allow Vietnamese citizens to participate legally in casino gaming under stringent regulatory conditions. Current law generally prohibits nationals from gambling at most licensed facilities.

The project’s timing comes as Vietnamese authorities face increased scrutiny over financial crime vulnerabilities in the gaming sector. Despite the amended 2023 anti-money laundering law, the United Nations Office on Drugs and Crime has warned that enforcement tools remain lacking. The authority highlighted gaps in cross-border information sharing and a limited capacity for supervision, particularly relating to organized crime syndicates.

Adding to the urgency, Vietnam is also facing growing competition from its neighbors, particularly Thailand, which is actively considering liberalizing its casino sector. With regional competitors quickly moving to attract large-scale investment, Vietnamese legislators are hard-pressed to speed up development without compromising regulatory integrity. The Van Don project directly answers these issues, possibly providing a blueprint for additional large-scale entertainment zones.