Finally! Vietnamese citizens allowed to gamble
Vietnamese citizens, known for their penchant for betting and gambling, will be allowed to enter approved casinos in Vietnam and gamble, the government announced, adding that the respective decree will come into effect on March 15.
Until now, Vietnamese had been barred from actively gambling in the country’s more than 30 official casinos, the majority of which are located in Ho Chi Minh City, Hanoi, Vung Tau and Da Nang and had been exclusively catering to foreigners, mainly Chinese and Russians.
Vietnamese, in turn, had to resort to illegal alternatives like clandestine card games, makeshift lotteries and bets on local and international sports with underground bookies.
With the change in legislation, Vietnamese will be able to enter approved casinos and gamble under certain conditions in a three-year pilot project. Persons wishing to gamble must be over 21 years old with a regular monthly income of at least 10 million dong ($441). In case of the casinos, to receive government approval, they must be part of an entertainment and hotel complex project with investment capital of at least $2 billion, half of which must have been disbursed.
The three-year trial seeks to find out whether it makes Vietnam more attractive to big foreign gaming companies such as Las Vegas Sands, Genting, Nagacorp and Penn National Gaming, which all have expressed interest to invest in new casinos should locals be allowed to take part.
It should also determine whether it can reverse the loss of potential tax money from illegal gambling which is estimated to range up to hundreds of millions of dollars every year.
After the pilot run, the Vietnamese government will review the decree and decide whether to retain the legislation.
Vietnamese citizens, known for their penchant for betting and gambling, will be allowed to enter approved casinos in Vietnam and gamble, the government announced, adding that the respective decree will come into effect on March 15. Until now, Vietnamese had been barred from actively gambling in the country's more than 30 official casinos, the majority of which are located in Ho Chi Minh City, Hanoi, Vung Tau and Da Nang and had been exclusively catering to foreigners, mainly Chinese and Russians. Vietnamese, in turn, had to resort to illegal alternatives like clandestine card games, makeshift lotteries and bets on local...
Vietnamese citizens, known for their penchant for betting and gambling, will be allowed to enter approved casinos in Vietnam and gamble, the government announced, adding that the respective decree will come into effect on March 15.
Until now, Vietnamese had been barred from actively gambling in the country’s more than 30 official casinos, the majority of which are located in Ho Chi Minh City, Hanoi, Vung Tau and Da Nang and had been exclusively catering to foreigners, mainly Chinese and Russians.
Vietnamese, in turn, had to resort to illegal alternatives like clandestine card games, makeshift lotteries and bets on local and international sports with underground bookies.
With the change in legislation, Vietnamese will be able to enter approved casinos and gamble under certain conditions in a three-year pilot project. Persons wishing to gamble must be over 21 years old with a regular monthly income of at least 10 million dong ($441). In case of the casinos, to receive government approval, they must be part of an entertainment and hotel complex project with investment capital of at least $2 billion, half of which must have been disbursed.
The three-year trial seeks to find out whether it makes Vietnam more attractive to big foreign gaming companies such as Las Vegas Sands, Genting, Nagacorp and Penn National Gaming, which all have expressed interest to invest in new casinos should locals be allowed to take part.
It should also determine whether it can reverse the loss of potential tax money from illegal gambling which is estimated to range up to hundreds of millions of dollars every year.
After the pilot run, the Vietnamese government will review the decree and decide whether to retain the legislation.
