Vietnam

Vietnam is taking a step towards lifting a ban on locals gambling, but the experiment is limited to two casinos, leading to question marks over whether it will be the game changer that many foreign investors had hoped.

 

Vietnam is taking a step towards lifting a ban on locals gambling, but the experiment is limited to two casinos, leading to question marks over whether it will be the game changer that many foreign investors had hoped. The narrow scope of the experiment and remote location of the proposed resorts may hamper the revenue potential. 

 



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Vietnam’s draft gaming decree, which is now in its final stages and awaiting approval from the prime minister, won’t cut the country’s high gaming tax rate.

Vietlott, a computerized game operator has been accused of breaking rules to the disadvantage of traditional lottery operators, local media reports.

The ruling Communist Party of Vietnam has recently made it clear that it supports the creation of a new gaming industry and will allow local Vietnamese to enter designated casinos on a trial basis. AGB spoke to Prof. Augustine Ha Ton Vinh about the new legislation during the East Meets West Regulators Summit in the Philippines in October. Vinh is a Vietnam gaming expert and Senior Advisor to the Van Don Special Economic Zone and Integrated Resorts. He was a guest speaker at the Summit.

The ruling Communist Party of Vietnam has recently made it clear that it supports the creation of a new gaming industry and will allow local Vietnamese to enter designated casinos on a trial basis. AGB spoke to Prof. Augustine Ha Ton Vinh about the new legislation during the East Meets West Regulators Summit in the Philippines, Oct. 26-28, 2016. Vinh is a Vietnam gaming expert and Senior Advisor to the Van Don Special Economic Zone and Integrated Resorts. He was a guest speaker at the Summit.

The ruling Communist Party of Vietnam has recently made it clear that it supports the creation of a new gaming industry and will allow local Vietnamese to enter designated casinos on a trial basis. AGB spoke to Prof. Augustine Ha Ton Vinh about the new legislation during the East Meets West Regulators Summit in the Philippines, Oct. 26-28, 2016. Vinh is a Vietnam gaming expert and Senior Advisor to the Van Don Special Economic Zone and Integrated Resorts. He was a guest speaker at the Summit and told us locals will be allowed in two venues.



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Earlier this week, it was reported by media that former Macau junket boss, Mr Huang Shan, suspected of embezzling an estimated $1.3 billion of Macau casino junket investor funds was “captured” in a casino in Cambodia.

The dramatic slump in Asia’s VIP revenue over the past two years has forced operators to trim costs and diversify income sources to plug the gap. While much of the focus has been on boosting non-gaming and tapping into the mass market, companies have also been looking at ways of unlocking shareholder value through monetizing extensive fixed assets. 

 

The dramatic slump in Asia’s VIP revenue over the past two years has forced operators to trim costs and diversify income sources to plug the gap. While much of the focus has been on boosting non-gaming and tapping into the mass market, companies have also been looking at ways of unlocking shareholder value through monetizing extensive fixed assets. From real estate spinoffs, to timeshares and outright sales, many options are being considered. 

 



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Former Macau junket boss, Mr Huang Shan, who is suspected of embezzling an estimated $1.3 billion of Macau casino junket investor funds has been reportedly caught in Cambodia.

As Vietnam takes steps to address gaming as a new industry, serving the development of tourism and a number of ancillary services, it is critical to highlight the need for a comprehensive legal framework.

 

As Vietnam takes steps to address gaming as a new industry, serving the development of tourism and a number of ancillary services, it is critical to highlight the need for a comprehensive legal framework. The country needs legislation that regulates specific areas and nuances of the gaming industry in order to make it work, attract investment, develop the economy and above all follow international standards.



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Vietnam, a country of keen gamblers and soccer fans with a population of about 90 million, may be on the verge of legalizing sports betting after two decades of procrastination. However, experts say a proposal put forward in August by the Ministry of Finance is unlikely to go far enough to open the market and stamp out rampant illegal gambling.

Vietnam, a country of keen gamblers and soccer fans with a population of about 90 million, may be on the verge of legalizing sports betting after two decades of procrastination. However, experts say a proposal put forward in August by the Ministry of Finance is unlikely to go far enough to open the market and stamp out rampant illegal gambling. At issue in particular is a low daily cap and narrow options.



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