Will local Vietnamese return to the casinos? Phu Quoc pilot policy stirs controversy again.

According to the "Vietnam Net Global" report, the Deputy Prime Minister of Vietnam, Le Kha Phieu, recently instructed the Ministry of Finance to study whether it is possible to re-allow local residents in Vietnam to legally participate in gambling at the Phu Quoc Island casino. This statement has been interpreted by the outside world as the Vietnamese government may restart the process of loosening gambling policies.

Phu Quoc Island was once the only area in the country where locals were legally allowed to gamble, but this pilot policy expired at the end of 2024 and was not extended, after which locals were once again prohibited from entering casinos. The only legal casino, Corona Resort, thus lost an important consumer group, increasing operational pressure.

This policy review occurred against the backdrop of Vietnam vigorously promoting the economic recovery of An Giang Province and the Mekong Delta region. Relaxing casino entry restrictions is seen as a potential tool to stimulate local consumption and attract investment. The recent issuance of bonds totaling 2.4 trillion Vietnamese dong (approximately 91.8 million US dollars) by the parent company of Corona Resort for refinancing also highlights the project's tight financial situation.

If the policy allowing locals to enter is restored, it will not only provide a key customer source for the casino but may also mean that Vietnam's gambling system is evolving towards a "normalized pilot". However, at the same time, the potential impact of gambling on family structures and social security has once again raised concerns.

Whether Vietnam will take Phu Quoc Island as a bridgehead and take a new step towards the legalization of gambling remains to be observed.