Vietnam Casino Operators Face Continued Financial Losses in First Half of 2026
Phu Quoc Tourism reported an after-tax loss of more than VND211 billion for the first half of 2026 with accumulated losses approximately VND6.19 trillion by June 30, 2026. Royal International recorded an after-tax loss of more than VND1.7 billion with accumulated deficit approached VND600 billion by the end of the second quarter of 2026.
SCCG Take — Ongoing losses underscore the need for operators to resolve infrastructure limitations to capitalize on regulatory expansions and achieve targeted profitability.
Two of Vietnam’s casino operators remained under financial pressure in the first half of 2026, with both Phu Quoc Tourism Development and Investment JSC and Royal International Corporation recording losses.
Phu Quoc Tourism, which operates Corona Resort & Casino Phu Quoc, posted an after-tax loss of more than VND211 billion. This compares to a VND564 billion loss in the first half of 2025. The company’s accumulated losses reached approximately VND6.19 trillion by the end of June 2026, following full-year 2025 losses exceeding VND917 billion.
Financial Restructuring at Phu Quoc Tourism
Shareholders injected capital, raising registered capital from VND7.5 trillion to VND10 trillion. Shareholders’ equity stood at approximately VND3.81 trillion while total liabilities increased to VND51.67 trillion, including VND7.48 trillion in outstanding bonds. Liquidity weakened, with the current ratio declining to 1.1 and interest coverage ratio at 0.62.
Government Resolution No. 8/2025/NQ-CP, issued in November 2025, permits eligible Vietnamese citizens to gamble at the Phu Quoc casino without a fixed end date. Despite this, strong local demand has yet to materialize. Scott Choi, Lion Club head of external marketing, said in March that strong local demand had yet to appear, pointing to accommodation costs, limited room availability, and connectivity as constraints.
Royal Ha Long Faces Rising Costs
Royal International reported revenue of VND76.853 billion and an after-tax loss of more than VND1.7 billion for the period. The company returned to profit in 2025 but still carries an accumulated deficit approaching VND600 billion. It has set a 2026 revenue target of more than $7.5 million and after-tax profit exceeding $509,000.
According to World Casino News, management expects fuel price movements to affect costs and plans to pursue new visitor markets and partnerships with airlines and travel businesses.
These results illustrate the challenges facing Vietnam’s nascent casino industry as it seeks to balance international and domestic appeal.
Reporting: World Casino News
Generated by SCCG’s automated editorial system from published source reporting. SCCG Management holds editorial responsibility.
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