Grand Ho Tram gains massive boost from locals gaming permission, bringing the party from Saigon
Summary
The Vietnamese government has granted The Grand Ho Tram the right to allow local residents to gamble at the integrated resort, a major shift in the country’s casino landscape. The five-year permission follows similar moves for other properties such as Corona Resort & Casino and signals a new domestic market opening for Ho Tram, which sits within easy reach of Ho Chi Minh City.
The Grand Ho Tram, under Warburg Pincus control and led by CEO Walt Power, currently operates around 90 tables and 400 machines (with caps that could rise). Industry expert Ben Lee says the local market — including players who previously travelled to Singapore or Australia — represents substantial untapped gross gaming revenue (GGR) potential that could transform the property’s operations and investment plans.
Key Points
- Vietnam has authorised The Grand Ho Tram to accept local gamblers under a five-year pilot, joining Corona and Van Don in the local market trial.
- The property currently runs ~90 tables and 400 machines, with capacity caps and plans that could double if a third hotel tower is added.
- Proximity to Ho Chi Minh City gives Ho Tram access to a large, affluent player base previously restricted to foreign-only venues.
- Entry rules for locals include a VND1 million single entry levy, a possible monthly VND25 million pass and proof of income requirements.
- Industry view: local demand could generate significant GGR and should be reinvested into redevelopment to cement the resort as both a gaming and international leisure destination.
Why should I read this?
Short answer: because this changes the game for Vietnam’s casino map. If you care about where Asian players will spend their money next, Ho Tram just climbed several rungs on the ladder. It’s a boost for operators, investors and anyone tracking regional gaming flows — and yes, it means more people from Saigon will now be rolling up to the coast instead of hopping an international flight.
Context and Relevance
This decision is part of a broader regulatory shift in Vietnam that is loosening previous restrictions and testing local-market openings at select integrated resorts. For operators, the change offers a route to diversify revenue away from solely international tourists and VIPs. For investors, Ho Tram’s new status — combined with its partially completed build-out and Warburg Pincus backing — increases the potential return on further development, especially if additional hotel capacity and gaming floors are added.
The move also underscores a regional trend: countries in Asia are recalibrating how they balance tourism, domestic demand and casino regulation. How Ho Tram leverages local access (marketing, VIP retention, entertainment upgrades) will be a bellwether for other projects and for Vietnam’s wider gaming strategy.
