The declining VIP gambling scene in Macau has proved beneficial for Danang, Vietnam based casino and resort, Crown International Games Club.
The small, privately owned beachfront casino has emerged as one of the most popular sites for wealthy Chinese to place VIP level bets, with VIP revenues exceeding those in Cambodia, Philippines and Malaysia.
Crown is owned by Chinese business Hui Kong, and is one of seven licensed casinos in Vietnam. So far, the Chinese are the biggest client base for the Crown and Vietnam’s other casinos, working typically with junket operators.
Industry executives estimate monthly VIP revenues have increased over the past year to HKD $3 billion (USD$387 million) a month.
The resort complex will double the number of rooms as part of a $600 million redevelopment plan, which will include a JW Marriott-branded hotel, a duty free shopping mall and an expansion of the casino.
Industry analysts have said that Vietnam could become a major Southeast Asian casino hub once it revises the laws prohibiting locals from gambling. According to The Malaysian Star, the restriction may be debated in 2016.