• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Vietnam end to locals ban hurts regional border ops: note

Jan 23, 2017 Newsdesk Latest News, Rest of Asia, Top of the deck  


Vietnam end to locals ban hurts regional border ops: note

Border casinos in countries neighbouring Vietnam are to be the “hardest hit” by the Vietnamese government’s decision to allow locals to gamble at selected domestic casinos. That is according to brokerage Union Gaming Securities Asia Ltd.

“We do expect the border casinos in cities like Bavet [in] Cambodia to bear the brunt of the downside, as the border casinos… have historically captured the lion’s share of Vietnamese customers,” Union Gaming analyst Grant Govertsen wrote in a Sunday note.

He added: “We would expect many to struggle to survive over the duration of the three-year Vietnam locals pilot programme.”

The Vietnamese government published on Friday a decree that paves the way for selected domestic casinos to accept bets from Vietnamese gamblers, for a trial three-year period.

The terms of the 50-page decree – available in Vietnamese on the government’s website – come into effect on March 15. The measure will allow citizens over 21 years old and with a monthly income of at least VND10 million (US$443) to enter local casinos and gamble, news agency AFP reported.

Following a meeting in December between officials of the northern province of Quang Ninh and Vietnam’s Prime Minister, Nguyen Xuan Phuc, it had been reported in the country’s media that a three-year trial period would be run regarding locals gambling. Two casino resorts were mentioned at the time for the pilot scheme – one in the Van Don Special Economic Zone in Quang Ninh, and the other on the southern resort island of Phu Quoc. Both casinos are said to be under construction, with no scheduled opening date for either having been reported so far.

In his Sunday memo, Mr Govertsen said: “Neither of these locations are readily accessible by persons living in major metros [urban centres] of Hanoi and Ho Chi Minh City.”

He added: “However, we do believe that the language of the decree could also allow [The Grand] Ho Tram (around two hours from Ho Chi Minh City) to apply to be part of the locals pilot.”

Management at The Grand Ho Tram – an up and running gaming resort on the country’s southern coast – had told GGRAsia in an October 2014 interview that the property hoped to be part of a pilot programme for locals to gamble.

News agency Bloomberg reported on Saturday there was no indication from the Vietnamese government on when local gaming licences would be issued.

Mr Govertsen said that the partial end to the ban on local casino gambling in Vietnam was unlikely to have a material impact on NagaWorld in neighbouring Cambodia. “We estimate NagaWorld’s current exposure to Vietnam, as measured by gross gaming revenue, is less than 5 percent on mass market and slots, and an even lower percentage of VIP.”

NagaWorld is the only casino resort in Cambodia’s capital Phnom Penh. The property is operated by Hong Kong-listed casino NagaCorp Ltd.


  • tweet
Related articles
  • Van Don casino resort plan sent to Vietnam PM: report
    Van Don casino resort plan sent to...

    Nov 24, 2023  

  • Ho Tram new phase at Ixora condotel, with villas: CEO
    Ho Tram new phase at Ixora condotel,...

    Nov 22, 2023  

More news
  • Welcome mat, pricey hotels drag Macau MICE: sector
    Welcome mat, pricey hotels drag Macau...

    Dec 01, 2023  

  • Kangwon Land Inc CEO Lee Sam-Geol resigns: reports
    Kangwon Land Inc CEO Lee Sam-Geol...

    Dec 01, 2023  


Latest News

Welcome mat, pricey hotels drag Macau MICE: sector

Welcome mat, pricey hotels drag Macau MICE: sector

Dec 01, 2023  

Fresh event space in casino resorts is welcomed by Macau’s meetings, incentives, conferences and exhibitions (MICE) sector, but visitors’ reception on arrival in the city, high hotel prices, and...
Read More
Kangwon Land Inc CEO Lee Sam-Geol resigns: reports

Kangwon Land Inc CEO Lee Sam-Geol resigns: reports

Dec 01, 2023  

Paradise Co Nov casino rev top US$43mln, down sequentially

Paradise Co Nov casino rev top US$43mln, down sequentially

Dec 01, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”We committed to the government to provide a full business idea and plan for Phase 1b around 12 months after the casino opens, therefore, probably early 2025”

Chen Si

President of the Mohegan Inspire Entertainment Resort in South Korea



Most Popular

  • Macau op premium play reinvestment 17pct of GGR: CLSAMacau op premium play reinvestment 17pct of GGR: CLSA November 30, 2023
  • Inspire Arena leads Mohegan debut in Asia gaming resort bizInspire Arena leads Mohegan debut in Asia gaming resort biz November 30, 2023
  • Macau November GGR down 18pct on October: govtMacau November GGR down 18pct on October: govt December 1, 2023
  • Mohegan Inspire still eyes 1Q24 casino debut: presidentMohegan Inspire still eyes 1Q24 casino debut: president December 1, 2023
  • Miriam Adelson selling US$2bln LVS stock to buy sports teamMiriam Adelson selling US$2bln LVS stock to buy sports team November 29, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us