Vietnam’s gambling laws do not allow local residents to gamble at one of the casinos and this has proven to be a major stumbling block for the country to attract international casino operators and expand their lucrative casino market.
the International casino operators are of interest for the development of integrated casino resorts, but are reluctant to make the investment if the current gaming regulators require casino operators to invest more than $ 2 billion for the obtain of a casino license.
Casino operators have not found this proposal attractive as they will depend on the tourists to bring in revenue and as a result of Vietnam’s casino industry has slowed down.
Professor Augustine Ha Ton Vinh that is a gaming market analyst and someone with close ties to Vietnam’s political arena had said in September that the legislators were looking to remove the ban on the local population, to stimulate the casino industry. The professor recently told the local media that he has information that a new gok decree has been approved by the Politburo of the Communist Party, which allow local residents to gamble at two integrated casino resorts in Vietnam for a period of three years probation.
One resort is situated Van Don Island, Ha Long Bay and the other Phu Quoc Island. These casinos are in North and South Vietnam, and according to Ton Vinh, the government could consider the addition of two casinos in Central Vietnam, in a subsequent period, depending on how the first experiment shows.
The Ministry of Finance has prepared a new draft decree that allows the local population, who are over the age of 21 and earning more than $ 500 per month to gamble on these two casinos. They will have to show salary proof along with a no objection certificate from immediate family. They pay an entrance fee of around $ 50 for each time they pay a visit to the casino or the obtain of a monthly subscription for around $ 1,100.
In a statement, Professor Augustine Ha Ton Vinh said:
I believe Vietnam will see a new and flourishing gaming industry, which will significantly help more foreign direct investment, improving the local and regional tourism, voice-outflow of capital, the development of new, qualified workers, etc. I am convinced that the Ministry of Finance is getting her final decree approved and will soon, possibly in the next few months
The Ministry of Finance has so far not released any official information about the new game-draft of the decree.