Casino reports losses for 15th straight quarter

By Tat Dat   July 30, 2023 | 07:02 pm PT
Casino reports losses for 15th straight quarter
The casino of Royal International Corp. Photo courtesy of Royal International Corp
Royal International Corp., which owns Vietnam’s biggest casino in northern Quang Ninh Province, reported losses of VND24 billion (US$1 million) for the second quarter, its 15th in a row.

They were nearly 48 times the losses it had reported a year earlier. Revenues were down 42% year-on-year also at VND24 billion.

Royal International owns a casino, a hotel and villas in the Bai Chay resort area in Ha Long city in Quang Ninh.

The casino accounted for losses of VND9 billion and the hotel and villas for VND14.5 billion during the quarter.

Its first half losses climbed to VND35 billion as against a full-year target of $1.5 million in profits.

Royal International, which opened in 1994, has been in the black only in 2015 and 2018. Its shares were delisted from the Ho Chi Minh Stock Exchange last May.

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