for early access to the latest igaming videos!
and get the latest igaming news first!
Vietnam’s casino industry is steadily expanding, and much of that growth is still anchored in the spending power of Korean visitors. Integrated resorts and urban e-gaming clubs across the country remain heavily reliant on Korean players, who continue to make up the largest share of their gaming customers under Vietnam’s foreigner-only system. At such venues, international gamblers, particularly those from South Korea, are the main pillar of the market and largely define the market’s direction for operators.
Revenue from Korean gamblers has increased over the past year, according to Lion Club’s external marketing head Scott Choi, who pointed out that this is a reflection of their position as the main source of revenue for the gaming market in Vietnam. As international travel activity gradually picks up steam again, Vietnam’s tourism industry is quietly changing with a new influx of tourists arriving in the country. Choi states that the base of Korean gamblers remains a solid foundation in Vietnam, though their percentage of the market slightly dips as the influx of Chinese gamblers returns.
Shifting Behavior and Value-Focused Travel
With the recovery of travel and the increase in the number of travelers visiting Vietnam, the characteristics of Korean gamblers visiting Vietnam are changing as well. According to Choi, the market is slowly segmenting, with a greater gap between VIP/premium mass gamblers, who are typically business owners and executives in the manufacturing and trade industries, and budget gamblers. These premium mass gamblers are showing strong betting potential for both casinos and e-gaming clubs.
On the other hand, a larger portion of the mass segment is now more attentive to costs and promotions when choosing where to gamble. Players are considering airfare, hotel packages, and rebates, among others, before making a decision on where to go for a trip. According to Choi, this reflects a significant shift in the decision-making behavior of gamblers, as previously, a trip for gaming was less about cost and more about lifestyle and leisure.
Resorts, E-Gaming Clubs, and Younger Players
A fascinating aspect of Vietnam’s Korean gaming industry is the disparity between gamers visiting the integrated resorts and those visiting the urban e-gaming clubs. Large-scale resorts like The Grand Ho Tram, Hoiana Resort & Golf, and Corona Resort & Casino generally have a higher concentration of Korean tourists who enjoy a range of activities in addition to casino gaming. These tourists generally visit these locations 1-3 times a year and stay a couple of nights at a time. These tourists tend to have a wide range of expenses across various tables in the casino, hotel stays, dining at the resort, spa experiences, and golf.
Urban e-gaming clubs operate under a different rhythm. These venues mainly draw more frequent visitors, including Korean expatriates and workers in nearby industrial zones, especially around Ho Chi Minh City. Many of them drop by several times a week for shorter visits focused almost entirely on gambling. These have a more direct relationship with the amount of bets placed on the tables. It has a high bet amount with a relatively lower amount of expenditure on activities apart from gaming. However, Vietnam’s gaming industry is also attracting a younger generation of Korean tourists who are accustomed to mobile devices and have a preference for digital platforms. Vietnam is still the preferred destination for Baccarat games. Slots and online table games continue to gain acceptance and interest.
Digital Push, Competition, and Future Growth
As the customer profile changes, Vietnamese gaming operators are accelerating their digital push. Over the past two years or so, many casinos and e-gaming clubs have launched their websites and mobile apps to keep their customers engaged and communicate more easily. No longer is it just phone calls that matter. Chat tools, messaging apps, and digital tools play an important role in connecting and communicating with the Korean customer. The market is seeing increased levels of competition as gaming operators increase their promotional expenses and commissions or incentives. They are also recruiting seasoned hosts and managers who have strong connections and networks in Korea and offer higher salaries and incentives.
As far as the future of the gaming market in Vietnam is concerned, according to gaming analyst Choi, the number of Korean customers visiting Vietnam and the demand for gaming will continue to increase. There will be at least a 15% increase in the number of customers in the e-gaming clubs and casinos. This is because the Long Thanh International Airport opened in Dong Nai Province. There are going to be more direct flights from Korea to Vietnam.
It is a viable option for the Koreans when they compare it with other gaming destinations. The cost of living in Vietnam is relatively lower. The food culture in Vietnam is familiar to Koreans. The hospitality industry in Vietnam is improving. Vietnam is also seen as a safer destination compared to Korea. There are already some Korean customers who were previously visiting other gaming destinations and chose Vietnam as their gaming destination.
Source: Asia Gaming Brief (AGB)
