Good morning. Vietnam is considering further steps to open up its sports betting market, though industry insiders say it’s still unlikely to be enough to attract international investors. Earlier this month, the Ministry of Finance said it was expanding the number of football tournaments that locals are allowed to bet on. The wider variety removes one key hurdle for potential industry participants, but the legislation is still seen as being too restrictive to allow firms to compete with the booming illegal market.
What you need to know
- Macau’s six gambling operators attended a public consultation session on the proposed draft gambling law, but didn’t express concerns.
- Macau weekly GGR fell 8 percent from the prior week, mostly due to the volatile VIP sector, Bernstein Research said.
- The Catholic Church and local business groups are calling on the government to stop a plan to allow casinos on the island of Boracay in the Philippines.
- Asia Gaming Brief welcomes AliQuantum Gaming CEO, Andy Jones, as a shareholder and new board member.
On the radar
- SunCity agreed to a loan extension for SunTrust for its Manila casino project.
- Genting SG confirmed that its wholly-owned aviation unit has been liquidated.
- Saipan e-gaming firm provides conflicting financial information to govt.
- NZ is facing calls for tougher gaming regulation to protect Pacific peoples.
- PH lawmakers have approved the creation of the Boracay Island Development Authority (BIDA).
- NSW & VIC may be able to reopen gaming venues in late Oct and early Nov, respectively.
What the papers say
- Cambodia puts emphasis on eco-tourism development post-Covid.
- How China is bursting Asia’s casino bubble and why Yokohama was right to walk away.
- Andrew Tan’s Megaworld plans $797 million non-gaming resort on Palawan.
AGB Intelligence
DEEP DIVE
Vietnam sports betting seen as too restrictive to make business sense
Vietnam is considering further steps to open up its sports betting market, though industry insiders say it’s still unlikely to be enough to attract international investors. Earlier this month, the Ministry of Finance said it was expanding the number of football tournaments that locals are allowed to bet on. The wider variety removes one key hurdle for potential industry participants, but the legislation is still seen as being too restrictive to allow firms to compete with the booming illegal market. “The Vietnamese government did miss an opportunity in the way it chose to regulate football betting,” says Lorien Pilling, a gambling consultant with GBGC Consulting.
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