Vietnam’s Ministry of Finance has proposed resuming the principles of a recent trial programme that has allowed economically-qualified locals to gamble in casinos authorised to accept them.
But a fresh proposal would simplify a previous wealth test, and charge locals either an entry fee of VND2.5 million (about US$100) for 24-hour access, or VND50 million – about US$2,000 – for a month’s access, according to local media reports.
Currently no casinos in Vietnam are authorised to accept locals, after a pilot scheme at Phu Quoc lapsed on January 1. It is not clear from media reports if under the new system, all large-scale casinos in the country would be authorised to allow locals – subject to an entry fee.
Under previous rules, only one property in Vietnam – Corona Resort & Casino in Phu Quoc – had been permitted to run a pilot system allowing financially-qualified locals to gamble. Under that system, locals needed to prove they had a monthly income of at least VND10 million, and also pay circa VND1-million as a form of entry fee, according to local media outlets.
But as per the news reports, the authorities have found the wealth test hard to administer for officials, and hard for would-be local clients of casinos to provide required income-check documentation when they are travelling.
News outlet VnExpress cited a new draft decree on the matter as saying: “Many cannot provide the required documents as they must be thoroughly prepared in advance.”
The idea of either a VND2.5-million daily entry fee or a VND50-million monthly fee are mentioned in a Ministry of Finance second draft of a new decree on casino operations, said currently to be open for public consultation.
Reports stated that the national government and the country’s leadership, the politburo, had also been consulted. The politburo is said to have approved the policy in principle and authorised finalisation of the legal framework.
According to local media, criteria under proposed new rules would include that local players: are at least 21 years old and have full civil capacity in accordance with Vietnamese law; pay either of the mentioned fees as an “entry ticket”; are not subject to a written request made either by close family members or themselves, seeking exclusion from casinos; and that locals only use Vietnamese dong to pay for casino chips or equivalent tokens, and convert any remaining chips or winnings back into Vietnamese dong.
As per the reports, the draft decree stipulates that in order to obtain an investment registration certificate for a casino project, the minimum investment capital required is US$2 billion.
It was reported last month in Vietnamese media, that the Ministry of Finance had been instructed by Deputy Prime Minister Le Thanh Long, to look at ways of again allowing locals to gamble at casino premises on Phu Quoc island in An Giang province.
