Vietnam's $2 Billion Van Don Casino Resort: A Deep Dive into Asia's Next Gaming Frontier

A Landmark Approval: Van Don's $2 Billion Gaming & Tourism Hub

The recently approved integrated resort in Van Don is poised to become Vietnam's largest to date, sprawling across an impressive 244 hectares (approximately 603 acres). This scale alone positions it as a major player in Southeast Asia's competitive casino landscape, aiming to draw a significant influx of both international and, notably, domestic visitors. The Vietnamese developer, Sun Group, is a powerhouse in the nation's real estate and tourism infrastructure, known for iconic projects like the Ba Na Hills SunWorld entertainment complex and numerous luxury resorts across the country. Their involvement signals a strong domestic commitment to the project's success.

The complex is meticulously planned to offer a comprehensive array of amenities beyond its casino floor. These include a diverse range of luxury hotels and villas, extensive retail zones designed for high-end shopping, state-of-the-art convention centers for MICE (Meetings, Incentives, Conferences, and Exhibitions) tourism, and various leisure and entertainment attractions. This multi-faceted design aligns with the global trend of integrated resorts, where non-gaming revenue streams often surpass gaming revenues, ensuring broader appeal and economic stability.

The Vision Behind Van Don: Fueling Economic Ambitions and Tourism Boom

The Van Don project is more than just a casino; it's a strategic pillar in Vietnam's national vision to transform the Van Don Economic Zone into a vibrant international tourism hub by 2030, focusing specifically on high-end marine and island tourism. This focus is critical as Vietnam continues its impressive economic trajectory, with the World Bank forecasting a robust GDP growth of 6.8% in 2025.

The direct economic benefits are substantial, with projections indicating the creation of nearly 6,000 new jobs within the resort complex. Beyond direct employment, integrated resorts typically generate significant indirect job creation in supporting industries like transportation, food and beverage supply, and local services. For instance, integrated resorts in Singapore have been credited with boosting tourism receipts and creating tens of thousands of direct and indirect jobs, contributing significantly to the national GDP.

Vietnam's tourism sector has shown remarkable resilience and growth. In 2024, the country welcomed over 17.5 million international visitors, marking a robust 39.5% increase over 2023 figures and nearly recovering to 2019 pre-pandemic levels (98%). The ambitious target for 2025 is to attract between 22 and 23 million foreign visitors. Large-scale developments like Van Don are seen as crucial catalysts to achieve these targets, attracting high-spending tourists and extending their stay in the country.

A Controlled Gamble

Perhaps the most significant aspect of this approval is the extension of the pilot program allowing Vietnamese citizens aged 21 and above, with a monthly income exceeding VND10 million (approximately US$400), to gamble at the casino. Previously set to expire, this crucial provision has now been prolonged until 2030 specifically for the Van Don project, highlighting the government's cautious but progressive stance on domestic gambling.

Historically, gambling has largely been prohibited for Vietnamese citizens, with casinos primarily catering to foreign passport holders. The initial pilot program, which also included the Corona Resort & Casino in Phu Quoc, represented a significant shift, aimed at combating illegal gambling and retaining domestic gambling expenditure within the country. This measured approach contrasts with more liberalized markets in the region like Macau, but reflects Vietnam's unique socio-economic considerations.

The continuation of this local-player experiment demonstrates the government's commitment to gathering more data on the social and economic impacts before potentially expanding access nationwide. With foreign investors previously required to invest over $2 billion to even qualify for a casino license, the Van Don approval solidifies Vietnam's position as a carefully regulated, yet increasingly attractive, market for large-scale integrated resort development in Southeast Asia.