Good Morning. Vietnam created a few ripples of excitement earlier this year when it said it was expanding its locals program to two further resorts. That ripple spread further in May after the local government in the country’s largest city, Ho Chi Minh, said it was proposing to ask the central government to allow casinos in five-star hotels, which would also admit locals. Although a tantalizing prospect, IGamiX Management & Consulting managing partner Ben Lee tells us this is highly unlikely to move ahead. He also discusses why the metrics for Ho Chi Minh would be appealing for foreign investors.
What you need to know
- Travelers International Group, the operator of Resorts World Manila, said the property generated a 43 percent gain in 1Q22 GGR as restrictions in the Philippines eased.
- Tourism arrivals to Singapore in the first four months of the year have overtaken the visitor numbers for all of 2022, with a surge in April after Covid restrictions were eased.
- The Victorian gaming regulator has wasted no time pushing for changes at Crown Resorts’ Melbourne casino, announcing new rules governing electronic gaming machines (EGMs) at the casino effective Wednesday.
On the radar
- LRWC swings to 1Q22 loss on higher operating costs.
- Dynam FY21 revenue gains 6.6%, but company remains cautious on outlook.
AGB Intelligence
ON THE GROUND
Ho Chi Minh locals gambling likely a pipe dream
Vietnam’s Ho Chi Minh City would be a major lure for casino investors, with strong market potential, but the local government’s proposal to expand its gambling offering is likely to fall on deaf ears in Hanoi, according to a leading gaming analyst. Earlier this month The People’s Committee of Vietnam’s Ho Chi Minh City put forward a proposal to allow casinos in five-star hotels, at which locals may be permitted to gamble, as part of a raft of measures to improve nightlife. It would be an highly desirable proposition were it to go ahead.
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