Ho Tram approval set to reshape Vietnam’s gaming landscape and redirect regional player flows: Expert

01-10-2020 |  

Vietnam’s decision to allow local players at The Grand Ho Tram—the country’s largest integrated resort in the south—marks a watershed moment for the nation’s gaming market, with an industry expert saying the move will unlock a major domestic segment and shift regional player flows that have historically favored casinos across the Cambodian border.

Tim Nguyen, Director of Fortuna Investments

Speaking to AGB, Tim Nguyen, Director of Fortuna Investments and a 20-year industry veteran, described the approval as a structural turning point that will reshape investment sentiment and accelerate Vietnam’s emergence as a regulated integrated-resort destination.

The authorization forms part of Resolution No. 307/2025/NQ-CP, issued on November 26th, which grants permanent local entry at Corona Resort & Casino and establishes five-year pilot programs at Ho Tram and Van Don. The policy shift represents Vietnam’s most significant expansion of domestic casino access since the launch of the first pilot program in 2017.

Ho Chi Minh City

Nguyen told AGB that allowing Ho Tram to welcome Vietnamese nationals is “one of the most significant milestones in Vietnam’s gaming landscape since the original pilot program was launched in 2017.” He added that the resort’s proximity to Ho Chi Minh City positions it to reshape both domestic and cross-border activity. “Ho Tram’s proximity to Vietnam’s largest metropolitan area will likely unlock a strong domestic market segment that was previously traveling to Cambodia.”

“This approval is a game-changer. Ho Tram becoming the second casino in Vietnam allowed to serve local players will transform the country’s gaming landscape, boost tourism, and redirect a substantial portion of Vietnamese players who previously traveled to Cambodia. For the industry, it represents a clear sign that Vietnam is finally unlocking its true IR potential.”

He added that the shift will also prompt renewed interest from international operators and investors evaluating Vietnam’s long-term growth prospects.

Local-entry conditions remain governed by Decree 03/2017, which sets out eligibility requirements for Vietnamese citizens. Players must be at least 21 years old, demonstrate a stable monthly income of at least VND10 million ($400), and face no written objection from immediate family members. They must also purchase either a VND1 million daily pass ($40) or a VND25 million monthly pass ($1,000). Authorities have stressed that monitoring systems and compliance requirements will remain strict for all operators participating in the pilot programs.

Nguyen said the approval signals Vietnam’s growing confidence in managing a regulated casino sector that includes local participation. He noted that Ho Tram’s pilot is “not only a commercial breakthrough but also a strong policy indicator that Vietnam is ready to evaluate broader integrated-resort development similar to Singapore or the Philippines.”

If the program delivers positive results—both in tax revenue and responsible-gaming compliance—he believes it could pave the way for local-entry approvals in tourism hubs such as Da Nang, Hanoi, and Van Don.

The Van Don integrated resort project—which is still going to be built—is valued at VND51.5 trillion ($2.16 billion) and operates under a 70-year concession. Designed to anchor northern Vietnam’s tourism sector, its inclusion in the pilot scheme is expected to strengthen investor sentiment and support the project’s long-term commercial viability once construction moves forward.Ho Tram, which opened in 2013 following a $500 million investment, remains Vietnam’s most established integrated resort.

The property is currently undergoing a $1 billion expansion that will increase its hotel capacity to more than 9,000 rooms and add new entertainment and gaming amenities. With local entry now permitted, industry analysts expect Ho Tram to solidify its role as the southern anchor of Vietnam’s gaming industry.

Source: AGBrief