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Home Casino News Corona Resort and Casino Reveals Half-Year Financial Results; Nagasaki Prefecture Shares Details...

Corona Resort and Casino Reveals Half-Year Financial Results; Nagasaki Prefecture Shares Details of Planned Casino Resort

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Corona Resort and Casino Reveals Half-Year Financial Results; Nagasaki Prefecture Shares Details of Planned Casino Resort
Corona Resort and Casino has reported profits in excess of $4.5 million in the first half of 2019

The only Vietnamese casino which permits local players to legally gamble, the Corona Resort and Casino venue has just released its profits for the last period including six months. As shown by the financial results revealed by the company’s officials, Corona Resort and Casino has accumulated gross profits worth over $4.6 million for the period between January to June this year.

This luxurious facility is located on the island of Phu Quoc. The venue opened its doors to local players as well as foreign tourists on the 19th of January. Opening its casino floor was the best way to compliment the venue’s already rich offering which includes several restaurant services alongside a modern hotel area. Soon after opening its doors, Corona Resort and Casino became the nation’s very first venue of this kind to benefit from an important legislation piece that has previously allowed Vietnamese citizens who are economically qualified to place real money wagers.

Financial Struggles and Growing Competition

The Corona Resort and Casino facility is owned by one local real estate and property development company named Phu Quoc Tourism Investment & Development Company JSC. When it comes to its very first half-year gross gaming revenues, they have reached $26 million even though the numbers for its parent regarding aggregated gross revenues dropped by around ten percent to reach $49.5 million. In addition to these financial issues, the brand is also facing rapidly growing competition.

Corona Resort and Casino was designed by Steelman Partners which is an extremely prominent US-based architectural company. Today, Corona Resort and Casino is the only venue which permits Vietnamese citizens who are older than the age of twenty-one and have an income of over $430 a month to gamble real money. However, this will change shortly and Corona Resort and Casino will get competition in a second local casino constricted in Quang Ninh Province.

Nagasaki Prefecture Releasing Details on Its Integrated Casino Resort

In the meantime, Nagasaki Prefecture has shared more details on its fully integrated casino resort which may open its doors in this area in a time to come. As previously revealed, Nagasaki hopes to be one of three Japan-based fully integrated casino resorts. According to one report by Inside Asian Gaming, the area’s officials have already made the initial request regarding the RFC phase for its plans on bringing a luxurious, Las Vegas casinos-inspired gambling facility.

According to the latest details shared on this matter, the Nagasaki Prefecture’s authorities hope to bring such facility to a massive, seventy-four-acre property located to the popular Huis Ten Bosch park. The very first stage of this massive process has already kicked off several days ago. As reported, it involves the prefecture soliciting major plans from several private operators which are interested in both constructing and operating the Nagasaki Prefecture’s envisioned fully integrated casino resort in the city of Sasebo.

Inside Asian Gaming has also reported several days ago that the Prefecture is also hoping to have everything set including selecting a final casino proposal by the fall of next year before its authorities can submit its fully finished plan to federal selectors in the country’s capital. It should be noted that in order to be considered, privately-owned companies must commit to investing between $3 and $5 billion to construct a venue packed with at least one hotel area alongside related facilities which have to be capable of accommodating around twelve thousand visitors.

Nagasaki Prefecture serves as home to more than 1.3 million citizens and its officials hope to open its fully integrated casino and hotel resorts in four years from now. Opening such a venue will definitely improve the area’s economy as well as attract more tourists. However, any plan that the Prefecture submits for one of the three casino licenses will doubtlessly face serious competition from other Japanese runners including Yokohama, Tokyo, and Osaka.

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