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Vietnam’s Sun Group has just been given the approval to bring a massive new project to life in Quang Ninh Province, a US$2 billion integrated resort that’s breaking ground in more ways than one. Local authorities, with the blessing of the Prime Minister, have signed off on plans for a development where, for the first time in the region, locals will be allowed to game under a newly revamped pilot scheme.
The approval caps off months of anticipation for both developers and would-be operators across Vietnam, especially as the resort is set to rise on a prime, 244.5-hectare plot. Of that space, 182.4 hectares are pegged for actual project construction, while 62.1 hectares are designated for natural forest, according to local sources.
A Big Bet on Locals Gaming
What’s fascinating about this project isn’t just the sheer scale, though with $2 billion and three phases of investment, it’s certainly not small. The more significant shift is around Vietnam’s approach to gaming. Traditionally, only foreigners could legally enter casinos in the country, but Sun Group’s Quang Ninh resort will include provisions to allow Vietnamese citizens to gamble as part of a broadened pilot program. This is only the second casino to ever offer locals gaming, Corona Resort & Casino on Phu Quoc island was the first, and even that effort wound down as the pandemic set in.
Officials had long debated how to update the program. The latest changes reportedly move away from steep financial proof requirements and could, instead, implement a straightforward entry levy. While final regulatory details are still being hammered out, the message is clear: authorities want to see if a more inclusive model can work without opening the door to social risk.
Layers of Amenities Beyond Gaming
The blueprint features serviced apartments and hotels to complement the increase in business and tourist visitors in Quang Ninh. Condominium residences, townhouses for commercial use, and a mix of retail, conference, and office spaces complete the development project.
This isn’t the developer’s first rodeo in the region either. Sun Group’s record in Quang Ninh is a showcase of infrastructure: from Van Don International Airport to the Ha Long, Van Don Expressway, and Sun World Ha Long. Their showcase projects have contributed to cementing the province’s rapidly ascendant position among Vietnam’s top tourism spots.
Phased Investment for a Multi-Year Path
As for the numbers, phase one of the project will see an initial infusion of VND25.1 trillion (about US$964 million). The second phase brings another VND22.1 trillion (US$849 million), with the final phase adding VND4.3 trillion (US$165 million). In total, the investment exceeds US$2 billion, which makes this a courageous investment at a time when the international gaming and hospitality sector is still finding new ground.
Construction schedules remain in the air, with provincial authorities yet to announce when ground will be formally broken or when doors would open. One thing is for sure, however: Everyone’s eyes will be on Quang Ninh as Sun Group embarks on the next chapter of Vietnam’s changing gaming scene. If successful, the development would set the stage for the way future integrated resorts will go about gaming and tourism, not only for foreign tourists but for millions of Vietnamese at home.
Source: Inside Asian Gaming (IAG)
