• 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
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Vietnam ministry gets casino biz permit powers: report

May 31, 2017 Newsdesk Latest News, Rest of Asia, Top of the deck  


Vietnam ministry gets casino biz permit powers: report

Vietnam’s Ministry of Finance has been given authority by the country’s government to grant business licences for “casino and gaming services” according to a Tuesday report by the online news portal VietnamNet.

The report didn’t specify if such licences would cover any gaming venues permitted to join a three-year government pilot scheme to allow economically qualified locals to gamble.

Under Vietnam’s administrative system, government decrees set out general policy. According to various media reports – published in the aftermath of a casino business decree in January – follow-up regulations are required to flesh out the specifics of a policy.

The 50-page decree covering Vietnam casino business – known officially as “Decree 03/2017/ND-CP” and published in late January; and which came into effect in mid-March – attracted headlines around the world because of a provision that locals might be able to gamble in certain venues under a three-year trial scheme.

Since then, there have been contradictory reports about how that might work in practice. Some accounts have suggested locals would only be allowed in purpose-built, so-called integrated resorts in certain zones located in parts of the country that have been targeted by the central government for a fresh round of economic development. Further reports have suggested no such geographical restrictions would apply.

What is clear – according to the latest article from VietnamNet – is that under the decree, eligible enterprises wishing to invest and operate in services, tourism and entertainment businesses that have casinos attached, must invest a minimum capital of US$2 billion and submit plans to manage what the report termed “the negative impacts of casino operations”.

An article in the International Financial Law Review – published on April 26 – made mention of the US$2-billion requirement, but added that as of that date, “no specific guidance has been given on this”.

That publication further stated: “Aside from an investment registration certificate (or investment policy decision), the investment project in an integrated zone is also required to have a certificate for casino business for satisfaction of conditions issued by the Ministry of Finance”.


  • tweet
Related articles
  • Foreigner-only Vietnam casinos seek local trade: report
    Foreigner-only Vietnam casinos seek...

    Mar 02, 2021  

  • Border casino op Donaco posts positive EBITDA for Jul-Dec
    Border casino op Donaco posts positive...

    Feb 26, 2021  

More news
  • Covid-19 test cert no longer needed for Macau casino entry
    Covid-19 test cert no longer needed for...

    Mar 02, 2021  

  • Lim Kok Thay, GEN Singapore execs in US$1.3mln stock award
    Lim Kok Thay, GEN Singapore execs in...

    Mar 02, 2021  


Latest News

Covid-19 test cert no longer needed for Macau casino entry

Covid-19 test cert no longer needed for Macau casino entry

Mar 02, 2021  

From after the stroke of midnight on Wednesday (March 3) people wishing to enter Macau casino floors will no longer need to show a test certificate proving they are free of Covid-19 infection, said...
Read More
Lim Kok Thay, GEN Singapore execs in US$1.3mln stock award

Lim Kok Thay, GEN Singapore execs in US$1.3mln stock award

Mar 02, 2021  

Five groups qualify for next phase of Nagasaki casino tilt

Five groups qualify for next phase of Nagasaki casino tilt

Mar 02, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

”Consumers are increasingly comfortable using cashless technology, and they will continue to expect this option to be available on the floor"

Matt Wilson

Chief executive – gaming business at casino equipment and technology supplier Scientific Games



Most Popular

  • Galaxy Macau to add Raffles-branded hotel towerGalaxy Macau to add Raffles-branded hotel tower March 1, 2021
  • Melco’s Lawrence Ho hopeful on Macau recovery in MarchMelco’s Lawrence Ho hopeful on Macau recovery in March February 26, 2021
  • Macau casino GGR down 9pct m-o-m in February: govtMacau casino GGR down 9pct m-o-m in February: govt March 1, 2021
  • Macau VIP challenged by changes in China: Galaxy Ent bossMacau VIP challenged by changes in China: Galaxy Ent boss February 25, 2021
  • Suncity to open clubs at Londoner Macao, Lisboa PalaceSuncity to open clubs at Londoner Macao, Lisboa Palace February 26, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us