Vietnamese Casino Royal Ha Long Reports 30% Revenue Drop Due to World Cup and VIP Wins

The gambling landscape in Vietnam is currently facing significant headwinds, as evidenced by the second-quarter financial results of one of its premier venues. Royal International Corporation (RIC), the operator of the Royal Ha Long Casino, recently disclosed a sharp downturn in its fortunes. Located in the northeastern Quang Ninh Province, Royal Ha Long is the largest establishment of its kind in the region. However, the prestige of the venue was not enough to prevent a 30% year-on-year drop in total revenue. The financial shift is stark: a profit of $380,000 in the second quarter of 2025 has transformed into a loss of $342,000 for the same period in 2026.

According to the operator, the primary reasons for this decline are twofold: an unusual streak of luck for high-stakes patrons and the diversion of attention caused by the World Cup. The company noted that several VIP guests achieved consecutive wins on high-stakes bets during Q2 2026. This atypical performance by players led to a dramatic reduction in what the industry calls prize-winning game revenue. Simultaneously, the 2026 World Cup dominated global entertainment spending, drawing high-end customers away from traditional casino floors and toward sports betting or tournament viewing.

Numbers and facts

Deep diving into the financial reporting reveals that gaming revenues fell by 50%, landing at approximately $646,000. This is a troubling figure for RIC, especially given their ambitious year-end goals. The company had previously set a revenue target of $7.6 million for 2026, with hopes of achieving a post-tax profit exceeding half a million dollars. As of the end of the second quarter, only 38% of those revenue goals have been met. One small silver lining was the performance of non-gaming sectors. Revenue from hotel services, food, and beverages actually saw growth during the quarter, providing a necessary buffer against the losses in the gaming rooms.

RIC has faced long-standing challenges. The operator was delisted from the Ho Chi Minh City Stock Exchange in May 2022 after suffering three consecutive years of losses. Currently, it trades on the UPCoM (Unlisted Public Company Market). The management also attributed the slump to rising fuel prices caused by geopolitical tensions. These costs have led to higher airfares, which in turn reduces the number of international tourists visiting Ha Long City. Interestingly, this contradicts figures from the Vietnam National Authority of Tourism, which showed a 15% increase in domestic tourist arrivals during the first half of the year.

Background

Vietnam's legal framework for gambling is notoriously restrictive. Most casinos are barred from admitting local citizens, forcing operators to rely almost entirely on foreign passport holders. To address this, the Finance Ministry launched a pilot project allowing certain locals to gamble, provided they pay an entry fee of $95 per day or $1,900 for a monthly pass. However, these fees remain prohibitive for the majority of the population. The Royal Ha Long currently operates 18 live gaming tables and 62 electronic gaming machines, a relatively modest setup compared to the mega-resorts in nearby Macau or Singapore.

„The tournament boosted global entertainment spending, causing high-end customers to reduce the frequency of their casino visits." - Royal International Corporation Spokesperson

Why it matters for German players

The situation in Vietnam serves as a reminder of the importance of robust regulation. German players, protected by the State Treaty on Gambling 2021 (GlüStV), operate in a vastly different environment. In Germany, the GGL (Joint Gambling Authority of the States) ensures that casinos maintain high liquidity and follow strict player protection rules. In a market like Vietnam, where a few lucky VIPs can significantly impact a casino's solvency, the risk to the average player's payouts is theoretically higher. In contrast, GGL-licensed casinos in Germany have a more stable revenue base due to the 1 Euro per spin limit and the 1,000 Euro monthly deposit limit, which prevents the extreme volatility seen in Asian high-roller rooms.

Furthermore, the transparency required by German authorities via the LUGAS and OASIS systems ensures that if an operator faced similar financial troubles, the regulatory oversight would trigger protective measures for player funds much earlier. For German gamblers, the lesson is clear: playing at a licensed and regulated domestic site provides a level of financial security that international grey-market operators simply cannot match.

What it means for GGL-licensed casinos

For operators under the GGL whitelist, the Vietnamese experience highlights the necessity of diversifying entertainment offerings during major sporting events. While the World Cup is a goldmine for sportsbooks, it often acts as a drain on virtual slot traffic. German licensed sites must balance their marketing carefully, adhering to the GGL’s strict advertising guidelines while still remaining attractive to players during these peaks. The stability of the German system, built on a foundation of responsible gaming and strictly monitored deposit limits, prevents the kind of 50% revenue craters reported by Royal Ha Long. It reinforces the idea that the German regulatory model, while restrictive, creates a sustainable business environment resistant to the sudden streaks of a few high-stakes individuals.