Good morning. Liberalize it, and they will come. Eventually. That appears to be the situation for Vietnam’s domestic market, after the government expanded its pilot program allowing locals to gamble at two open venues. Industry insiders say the shift is positive, in showing that Vietnam supports regulated local gambling, but demand has yet to take off. Looking to Australia, The Star has shifted a massive weight off its back, disposing of its 50 percent stake in Queen’s Wharf Brisbane, consolidating its resources, limiting its debt and allowing for WhiteHawk’s refinancing. And in the Philippines, PhilWeb continues to expand, launching a new content aggregation platform to tap both land-based and online.
What you need to know
- Vietnam signals gradual gaming liberalization with stricter rules and higher caps, though domestic demand has yet to gain meaningful traction.
- The Star offloads 50% stake in Queen’s Wharf Brisbane to joint venture partners CTFE and FEC, significantly improving its financial position.
- PhilWeb taps PT Gaming, NUSTAR for new content aggregation platform, diversifying its operations after PAGCOR accreditation.
On the radar
- Star Sydney casino license stays suspended, under continued oversight.
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- Sands China chairman calls Macau ‘ideal market’ for new investment.
- Pansy Ho seeks restraining order against woman over alleged harassment.
- Macau Legend’s ability to continue a going concern, after $200M FY25 loss.
AGB Intelligence
VIETNAM
Vietnam’s domestic demand fails to match hopes
Vietnam’s move to allow more local gambling was widely seen as a positive signal, with the nation granting a permanent expansion of the pilot program at Corona, and starting one at Grand Ho Tram, with a future one planned for Van Don. However, industry insiders say that the domestic demand is still limited, with less GGR impact and more focus on the country’s signal that it’s willing to have highly regulated local gambling, as long as it supports tourism growth.
Industry Updates
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