Vietnam’s Van Don Casino Plan Revived After Years of Delay, Ministry Re-Submits Proposal to PM

After more than a decade of stagnation, Vietnam’s Ministry of Finance has officially re-submitted a proposal to the Prime Minister for the long-anticipated Van Don casino project. Initially greenlit by the country’s Politburo over ten years ago, the luxury resort and casino development in Quang Ninh province is now back on the table, with renewed urgency and a multi-billion-dollar investment plan.

As reported by VnExpress International, the proposal envisions a VND51.5 trillion ($2.16 billion) integrated resort and casino complex to be located in Van Yen commune, within the Van Don district—an area known for its proximity to the iconic Ha Long Bay, a UNESCO World Heritage Site. The project is being positioned as a large-scale, multi-phase development that would bolster Quang Ninh’s profile as a key tourism and entertainment hub.

According to documentation submitted to the State Appraisal Council, VND7.7 trillion ($297 million) of the proposed total investment would be provided directly by an investor, while the remainder would be financed through bank loans. A source familiar with the process confirmed to Asia Gaming Brief that the Ministry of Finance re-submitted the Van Don casino proposal on May 21st, 2025, and is currently seeking further direction from Prime Minister Pham Minh Chinh. As part of its submission, the ministry recommended that the Quang Ninh Provincial People’s Committee be granted authority to select the final investor for the project.

Although a final investor has not yet been named, the current iteration of the proposal is being led by Sun Group Corporation, one of Vietnam’s most prominent real estate and tourism conglomerates. The development, if approved, will span a 70-year operational period and is planned to unfold across three investment phases. Phase 1, scheduled for 2023 to 2027, carries an estimated cost of $1 billion. Phase 2, set for 2027 to 2031, is projected at $883 million. The final phase, from 2031 to 2032, is budgeted at $174 million, bringing the total investment to approximately $2.16 billion.

“This would be one of the most high-profile integrated resort developments in Vietnam,” sources close to the matter say, underlining the potential significance of the project not just for Van Don, but for the entire region’s economic outlook. The Ministry of Finance’s proposal also recommends that Vietnamese citizens be permitted to gamble at the Van Don resort, under an extension of an existing pilot program that previously allowed local participation at select venues.

Vietnam’s policy on local gambling has long been a contentious issue. Traditionally, the country has maintained a strict prohibition on domestic citizens accessing casinos, restricting entry to foreigners. However, in 2016, Van Don was designated by the Politburo as one of only two sites approved to trial gambling access for Vietnamese nationals. The proposal’s alignment with this earlier approval could ease its path through the regulatory process.

Notably, the proposal specifies that construction must be completed within nine years from the date of licensing. This condition sets a firm timeline for the development’s realization and indicates a strong emphasis on execution and project delivery.

The revival of the Van Don plan comes at a crucial juncture. Vietnam’s pilot program that allowed locals to gamble, which included the Corona Resort & Casino on Phu Quoc island, officially expired at the end of 2024. At present, there are no casinos in the country legally open to Vietnamese citizens. The Van Don resort could therefore mark a significant turning point in the country’s gambling policy, potentially reopening domestic access under renewed legislative frameworks.

As the proposal awaits the Prime Minister’s review, all eyes are on whether Vietnam will finally greenlight what has long been seen as a cornerstone project in its evolving gaming and tourism strategy. If approved, the Van Don casino could play a transformative role in shaping both regional development and national policy in the years ahead.

By fLEXI tEAM