The promoter of Corona Resort & Casino in Phu Quoc, Vietnam, has reportedly issued VND2.4 trillion (US$91.8 million) in five-year bonds as part of a refinancing exercise.
The bonds are said to carry a fixed interest of 9.7 percent per year for an initial period, transitioning to a floating rate thereafter, reported The Investor outlet. The bonds are set to mature on June 27, 2030.
The Phu Quoc casino resort is described as being promoted by Phu Quoc Tourism Development and Investment JSC.
According to The Investor media outlet, the casino resort operator has redeemed the entire VND2.4-trillion bond lot ahead of its original maturity.
Following the issuance and early repayment, the company’s outstanding bond liabilities are now said to stand at about VND7.53 trillion.
Corona Resort (pictured) was until the end of last year the only casino in the country where economically-qualified locals were allowed to gamble. The property announced in late December that it would “temporarily suspend Vietnamese citizens from playing at the casino” on January 1 this year, “until further notice”.
The decision was to comply with amendments to existing regulation, while waiting for the national government’s decision “regarding the termination or continuation of this pilot programme,” stated the property’s promoter at the time.
According to The Investor news platform, the casino resort promoter reported net revenue of VND7.18 trillion last year, down 38 percent year-on-year. The firm posted a net loss of VND725 billion in 2024, compared to a net profit of VND866 billion a year earlier.
