Ministry gets authority to grant casino licenses

Vietnam’s Ministry of Finance has been given the authority to grant casino and gaming service licenses in the country, under a newly-issued circular, VietnamNet reports.

Vietnamese casinos were traditionally foreigners-only - however, starting from March this year, a provision was made to allow the entry of locals into certain casinos through a three-year pilot program.

Under Decree 03/2017/NĐ-CP, eligible investors wishing to invest and operate in services, tourism and entertainment businesses with casinos must invest a minimum capital of US$2 billion and submit plans to manage the negative impacts of casino operations.

Last December, Prime Minister Nguyen Xuan Phuc announced two casinos are approved under the pilot scheme, one on Phu Quoc Island, and one in the Van Don Special Economic Zone near the Chinese border.

There is speculation that Ho Tram may also be allowed to be part of the pilot program.

More news from this jurisdiction

VietnamMonday, Mar 12, 2018

A senior police officer in Vietnam was arrested on Sunday on suspicion of involvement in an international gambling ring.

VietnamThursday, Mar 08, 2018

Interblock has announced the placement of a fifty-seat Diamond Stadium in the Muong Thanh Ha Long Hotel’s new VIP gaming club, Hollywood One Club.

Cambodia, Australia, VietnamWednesday, Feb 28, 2018

Headaches caused by a former Thai junket impacted the earnings of Australia-listed Donaco International in the first half of the 2018 fiscal year.

Vietnam, CambodiaThursday, Feb 08, 2018

Transport officials from Vietnam and Cambodia are looking to build a railway connecting Ho Chi Minh City with Bavet City, linking Vietnamese outbound travellers to the Cambodian casino hub.

VietnamMonday, Jan 22, 2018

Vietnam’s casinos will soon be required to adopt new measures that ensure all transactions and winnings are properly recorded and stored for security and tax collection purposes.

VietnamWednesday, Jan 03, 2018

Prime Minister Nguyen Xuan Phuc has agreed in principal to allow a casino to be added to the Laguna Lang Co. resort in central Vietnam, with a likely 2021 opening date, local media reports.

VietnamFriday, Dec 15, 2017

The Ho Tram Project Company said it had begun construction work on the next phase of the $4.2 billion Grand Ho Tram IR project in Vietnam, breaking ground for the Kahuna Ho Tram Strip Condotel and Villa Development.