Do Son casino in the northern port city of Haiphong used to run effectively in a decade, but from 2008 until present it has incurred constant losses with cumulative losses exceeding VND169 billion ($8 million) by 2012.
Do Son casino in the northern port city of Haiphong
The news was released at a recent meeting on reviewing five-year implementation of Resolution of the tenth Central Party Committee sixth meeting on continuing perfecting socialistic oriented market-based economy of the city management authorities.
The report states that Do Son casino which was licensed in 1992 as Vietnam pilot casino model, has slipped into hardships, reported vef.vn. The casino started counting profits from 1998 and retained its profitable business in a decade until 2007.
From 2008 until present, the casino has bogged down in hardships with cumulative losses surpassing $8 million by 2012. Do Son casino’s management firm paid an average VND23.5 billion ($1.1 million) in taxes to state coffers every year.
Last year, the company headcount reached 417, of whom 394 were Vietnamese and the rest were foreigners.
Despite its poor performance in recent years, pay levels of casino employees are relatively high. Vietnamese managers earn an average $800 per capita per month while that of foreign mangers is $2,300 per month.
In respect to the casino implications, Haiphong management authorities said since the casino was put into operation it has helped attract scores of international and local visitors to the port city.
Do Son beach and Cat Ba island are two major tourism centres of Haiphong which have thus far witnessed intensive investments to grow into big tourism hubs of national significance.
A pipeline of tourism projects were executed as well as travel companies opened in the location with committed capital in the range of hundred of million of US dollars.
Earlier, according to a National Assembly’s Finance and Budget Commission report in February, Ho Tram casino- a major gambling venue in the country based in the southern province of Ba Ria-Vung Tau- scored revenue of $5.5 million with 35,877 visitors after seven months in operation.
Ho Tram casino has paid more than $2.8 million to the state budget by that time.
Ministry of Finance figures show that five trial casinos based in Haiphong, Lao Cai, Danang and Quang Ninh have posted total revenue of VND930 billion ($44 million), paid about VND254 billion ($12 million) in taxes and provided jobs to about 200-500 people a project.
By Mai Thuy
Đăng ký: VietNam News
