A small, privately-owned casino in one of Vietnam’s major port cities, where Chinese high rollers are reportedly gambling millions a month, is getting a $600m expansion.
Crown International Games Club in Danang will double its hotel space, expand its 100-slot, eight table casino and add a retail shopping mall as part of the development.
The casino is estimated to be generating nearly $400m a month in VIP revenue according to Reuters, which is more than double some of its competitors, including NagaCorp’s NagaWorld in Cambodia’s capital of Phnomn Penh and Genting Highlands in Malaysia.
Chinese high rollers are reportedly placing bets at Crown International of at least HK$1m, or about $129,000, Reuters reported. Casino officials declined to disclose financial details.
The casino charters 25 flights a week from China, Reuters quoted Ben Lee, managing partner at Asian gaming consultancy firm IGamiX. This comes at a time when VIP gaming revenues have been declining by double digits in Macau amid a crackdown on corruption by the Chinese government that has kept high rollers away.
The casino, owned by Chinese businessman Hui Kong, is one of seven licensed casinos operating in Vietnam. The news could bode well for potential casino developments in Vietnam, as the country is expected to approve up to three additional integrated resorts there.
Source: Fantini’s Gaming Report
