Vietnam's eight casinos, only open to foreigners, posted a combined revenue of VND1.379 trillion (US$61.3 million) last year, according to new statistics released at a conference in Hanoi on Wednesday.
The Institute for Regional Sustainable Development reported that the casinos paid VND339 billion in taxes last year.
Vietnam now also has 64 lottery companies and two sports facilities allowing gambling. Lottery companies paid VND20 trillion in taxes after earning a total of VND64 trillion ($2.85 million) in 2014.
According to the institute, illegal gambling activities have been piling up huge profits.
The Ministry of Public Security reported a total of 200 bookies for so de -- an illegal numbers game based on the state lottery -- in 18 cities and provinces earned at least VND500 million every day.
Local people in Vietnam are banned from gambling in any form and many people have traveled to Cambodian casinos.
A survey conducted in Tay Ninh Province showed that about 200 people crossed the border to Cambodia for gambling every day. The number rose to 700-800 on weekends.
A casino in Cambodia earned about US$250 million a year, mostly from Vietnamese gamblers, the report found.