Good morning. It’s all in the details. And Vietnam’s legal framework for casinos is either lacking in these or has an overly complicated process which experts say is hindering the long-term growth of the sector. Large foreign investors are itching to break into the market, but need clarity. Meanwhile, in Macau, things are looking up as China has shown its ongoing support for the SAR’s economic growth. However, in the short term, the high-profile visit by the nation’s top brass for the city’s handover anniversary will likely limit gaming activity this month.
What you need to know
- Gaps in the legal framework regulating Vietnam’s casino industry could hinder long-term growth and effective management, researchers argue.
- China’s policy support for Macau’s economy, including travel relaxations and Hengqin’s growth, is central to its future, says Goldman Sachs.
- Citigroup projects flat December GGR for Macau due to Xi Jinping’s visit, while Seaport remains more optimistic.
On the radar
- Vietnam’s new upcoming regulations tighten restrictions on online gaming.
- VGCCC CEO Annette Kimmitt to retire in March, praises changes made.
- Jeju Dream Tower casino sales up 45.5% YoY in November.
- Kangwon Land investing $128M in building new casino.
- Macau launches new light rail connection to Hengqin Port.
- Malaysia amending communications law to address online gambling.
AGB Intelligence
VIETNAM
Vietnam gaming industry legal framework hindering long-term growth
Vietnam has immense potential as a gaming hub in Southeast Asia, but it’s being hindered by the current legal framework, which experts argue has unclear investment guidelines. The lack of cornerstone legislation that anchors the industry allows for exploitation of loopholes, while also causing general confusion for outside stakeholders wishing to invest. And facilitating gambling for locals could be a key turning point, as the pilot plan comes to its end.
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