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BankrollMob Casino News

nov
30

Vietnam set to Open Casino Doors to Locals in 2019

Tags: Cambodia, Vietnam.
Posted on Friday, November 30, 2018 by "T".

In previous years, Vietnam has a variety of several huge casino resorts for the typical gambler, but all of them somewhat prefer foreign customers. Finally, starting next year, Vietnamese citizens who like to gamble will get the opportunity to do their favorite pastime without breaking any of their country's laws.

According to the Nikkei Asian Review, a three-year test program is going to start next year that will permit citizens to gamble at a specific casino on Phu Quoc Island, a popular tourist spot situated in Kien Giang. It seems like Vietnam's lawmakers are finally coming around to realize that it is much better to legalize gambling activities and regulate them rather than ban them and risk the occurrence of illegal gambling.

The plan was approved by the central government, which means this could eventually lead to having more projects put up such as horse racing facilities and other casinos which is spread throughout the designated spot in Vietnam. This month the regulators have approved the plans to build a horse-racing facility in the Soc Son District, which has been lying dormant for a decade now.

The major real estate developer in Vietnam called Vingroup shall be the primary beneficiary of the pilot program. It is the owner of the casino that has a capital investment of more than $2 billion, and it is part of an entertainment compound funded by Vingroup subsidiary called Phu Quoc Tourism Investment and Development.

The casino complex, though completed, is not yet operational as it is still awaiting its license from regulators. As soon as the license is approved, the casino could very well be operational early in 2019.

Throughout the years, Vietnam has had to deal with a huge incidence of illegal gambling in the country. However, it has been reported that under current laws, Vietnam has been losing around $800 million annually due to its citizens traveling to Cambodia just to gamble. It has been theorized since March 2017 that citizens were able to gamble in the country but creating the framework to oversee the activity has been but a very slow process. In order to control the situation, the Phu Quoc casino was authorized, hoping that the legalization of gambling will eventually help protect its citizens.

When the pilot launches, all gamblers must be 21 years of age or older. Also, they will have to prove that they have a monthly income of at least 10 million Vietnamese dong (approx. US$427) and not have a criminal record. Other than that, the casino will charge a 1 million dong (US$44) entrance fee, and all gamblers will be required to purchase a monthly gambling permit which costs a whopping 25 million dong (US$1,100).

Source:
https://asia.nikkei.com/Business/Business-Trends/Vietnam-prepares-to-open-up-casino-gambling-to-locals

 


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15 comments for "Vietnam set to Open Casino Doors to Locals in 2019"

 doubletop77711/30/2018 8:19:30 AM GMT
i think that this sounds like a great thing for all the locals and i really hope that they enjoy it. It would be nice to see a lot people taking up their chance to gamble in really nice casino and, hopefully, to win big money
 dule-vu11/30/2018 12:47:42 PM GMT
this will be great for all domestic people,to have chance to play in casino if they want!we can see that lot of countries are much open for this kind of things,especially in asia!some countries want to ban casino gambling,but in asia knew that this is big industry and that they can earn lot of money on taxes!
 Mober11/30/2018 1:21:54 PM GMT
I dont think i have ever heard about this, locals not being able to play in
casinos, in their own country.
You can say it is a bad thing from one point of view, since you cant gamble your money away, when you have such laws.
It wont be easy for everyone thought to gamble with that monthly fee,
of 1100 USD.
Thats a huge one.
 Gerimantas11/30/2018 5:32:38 PM GMT
Yes i too think it is good decision to let people gamble play games in casinos if they want and not force people to go to different country to play in casino, it is stupid situation. Also i think all things not legal must he make legal and regulations
 bowie198411/30/2018 8:31:27 PM GMT
Kinda makes no sense building a place for gambling where locals cannot participate in the first place, since Asia is really big on sportsbetting and playing cards so closing out a couple million potential customers is insane...
 pajalnick11/30/2018 9:25:31 PM GMT
for Vietnamese citizens this is of course very good .... now many countries prohibit online casinos and online poker .... And then the resolution is the opposite .... the world lives according to different laws .... and those who adopt these laws live in its some world ..... fictional ..... This is very sad
 dule-vu12/1/2018 1:28:11 PM GMT
I think that we had also news here at forum,from some country,that locals couldnt play at casino resorts,but cant remember which country was it!I think that also was same situation,that locals will pay some fee to enter at resorts!but in asia gambling is something new and it must pass some period for them to give this kind of "fun" to people!
 Robbo199012/1/2018 3:33:28 PM GMT
dule vu i think that was japan.
 CALICUL12/1/2018 3:37:34 PM GMT
The best thing for them is the legalization of gambling.
It is true, the monthly fee is $1100 per month, but i think that: they are trying to eliminates poorer people and to accept only gamblers with a good financial situation.
They do not want to enter in the casino poor people with little money ( he does not want to bankrupt them ).
Now they will play legally and it will be better for them.
 shokaku12/2/2018 11:04:21 AM GMT
A strange solution. The gambling permit is 2.5 times the average income, so will exclude most of the population from buying one. This casino will be for the wealthy hardcore gamblers only. The average person will still go to some shady business if they want to gamble
 CALICUL12/2/2018 3:38:37 PM GMT
They do that with a certain thought.
This thing is not to make poor people to ruin.
In addition, in the casino, there should not be the poor or the vagabond peoples because they need a serious clientele.
Is logical and at the same time protects others persons. Smile
 bowie198412/3/2018 6:32:21 PM GMT
Posted by shokaku:
A strange solution. The gambling permit is 2.5 times the average income, so will exclude most of the population from buying one. This casino will be for the wealthy hardcore gamblers only. The average person will still go to some shady business if they want to gamble

I cannot understand businesses where they just give up on their potential bottom line of customers who could provide a cushion when things are getting tough and instead they are waiting paitently to the couple dozen highrollers to provide 'steady traffic' all year. Just weird.
 Robbo199012/3/2018 9:10:27 PM GMT
I like the idea of such a fee, but wouldnt work here since the damage has already been done and many bars/pubs have slots anyway. such a fee would be a political thing
 dule-vu12/4/2018 10:26:15 AM GMT
its better that locals dont have entrance in casino,then to have fee like this one!to pay 1100 $ just to enter in casino and its only for 1 month,its just sick!you cant earn in casino so much,just to pay for fee!its not normal and they should let people to play if they want!
 Mober12/4/2018 12:38:46 PM GMT
It was a nice idea indeed to put a monthly fee that is that high.
It means that if you have the money to buy one, you will need additional funds to gamble.
Keeps all the ones with low income out, saving them from a possible financial disaster.
How many of these people have tried their luck and lost everything on the way...

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