Vietnam Royal Casino Loses $2.6M In 2022

Royal Casino, a gaming facility in Vietnam’s Quang Ninh province, reported a financial loss of 61 billion yuan ($2.6 million) for the fourth consecutive year in 2022, local news outlet Vn Express said, without citing sources of information.

The property is operated by Royal International Corporation, which disposed of its shares on the Ho Chi Minh Stock Exchange in May.

According to media reports on Friday, casino operations themselves lost 62 billion yuan during the latest reporting period, but were offset by the “margin profits” of the complex’s hotel and resort operations, which host accommodation called the Royal Harlong Hotel, according to a consumer website.

Royal International’s 2022 revenue rose 60% year-on-year to 119 billion VND, down from 125 billion VND achieved in 2020.

According to media reports, the number of foreigners visiting the property has fluctuated heavily amid the COVID-19 pandemic. The news outlet said there were only 300,000 foreign arrivals from all over the province in 2022, compared to 5.7 million in 2019. Royal International added that it laid off nearly 100 employees last year.

The report said Royal International, which was founded in 1994, has only recorded a “surplus” during 2015 and 2018 over the past decade. 슬롯머신

Vietnam’s one casino resort – Corona resorts and casinos on the southern holiday island of Phu Quoc – has so far been allowed to offer games to economically qualified locals. During the pandemic, China largely closed its southern border with Vietnam to ordinary travelers, according to Australian-listed Donaco International Limited, which operates a North-Vietnam casino hotel in Lao Kai.

In its latest fourth-quarter earnings, Donaco said mainland Chinese authorities had “announced a full resumption of border and travel flows from January 2023.”

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