Vietnam

ACDL executive chairman and CEO Michael Kelly has been elected as Vice Chairman of the AmCham Vietnam Board by his fellow governors.

HK-listed Success Dragon International Holdings Ltd. says it is considering investing in a company engaged in renewable energy.

Vietnamese locals will be required to meet a certain monthly income level in order to be permitted to gamble at local casinos, according to the latest draft decree.

Police have busted a VND300 billion (US$13.3 million) online gambling ring in Vietnam, arresting six individuals.

Success Dragon has terminated its agreement with One Opera Hotel, and said it will revise its cooperation with Le Meridien Hotel after experiencing ‘unexpected difficulties in obtaining requisite business certificates’.

Gaming machines in Vietnam, currently used in facilities for foreigners, will soon be required to meet more stringent conditions.

By 2018, the country will see a total of 6 integrated resorts, 50 hotel electronic gaming lounges, and 7 small casinos for foreign tourists, and gaming rooms at departure level of the country’s 7 international airports. In addition, a new sports betting decree is expected to come out sometime in the first half of 2017.

Note from Augustine Ha Ton Vinh, president and CEO of Stellar Management.

Other notes from: 

Andrew Klebanow, Global Market Advisors

For 2017 and beyond, I think we will likely see accelerated casino resort development in Southeast Asia, especially Vietnam and Cambodia.

Predictions for the 2017 Asian Gaming market could be precarious, but I speculate we will begin to see disruptive technologies migrate to the mainstream.

Traditional lottery operators in Vietnam have officially raised their top prizes in an effort to compete with the emerging American-style jackpot.

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