Vietnam’s Ha Long casino continues to lose staff on poor business performance
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Ha Long’s only casino continues to lose employees due to a number of reasons, including its persistent losses. Hoang Gia Joint Stock Corporation (RIC) in Ha Long, Vietnam’s resort city, which runs the Casino Gaming Club, said the number of employees has fallen by 275 now compared to the beginning of the year.
It has less than 1,200 employees remaining. Last year 514 had quit.
The main reasons, the company admitted, are the casino’s poor business and competitors’ talent attraction policies.
Revenues increased by 23 percent in the first nine months of this year to VND187 billion ($8 million), but it lost VND14 billion ($597,555).
Another problem for the casino is the sluggish progress of transport infrastructure works in the region, such as Van Don airport and the Ha Noi – Ha Long Highway, which prevents more foreign tourists, mainly from China, Japan and South Korea, from coming here.
The company targets revenue and profit after tax this year of $15.9 million and $1.5 million. Casino operations are expected to account for around 63 percent of the revenue with the rest generated by hotels and villas the company owns.
The owner of the company is Khai Tiep International Investment Limited, registered in the Cayman Islands.
Questions & Answers
Q.What is the primary reason for the casino's continued employee losses?
What is the primary reason for the casino's continued employee losses?
The main reasons are the casino's poor business performance and the effective talent attraction policies of its competitors. Employees are leaving due to these ongoing challenges.
Q.How many employees has the Ha Long casino lost since the beginning of the year?
How many employees has the Ha Long casino lost since the beginning of the year?
The casino has lost 275 employees since the start of the year, bringing the total number remaining to less than 1,200. This follows 514 employees quitting last year.
Q.Despite increased revenue, did the casino make a profit in the first nine months of this year?
Despite increased revenue, did the casino make a profit in the first nine months of this year?
No, despite a 23 percent increase in revenues to VND187 billion ($8 million) in the first nine months, the casino recorded a loss of VND14 billion ($597,555) during this period.
Q.What is preventing more foreign tourists from visiting the casino region?
What is preventing more foreign tourists from visiting the casino region?
The sluggish progress of transport infrastructure works, such as Van Don airport and the Ha Noi, Ha Long Highway, is preventing more foreign tourists, primarily from China, Japan, and South Korea, from reaching the area.