Vietnam to keep Sun Group casino monopoly

vietnam

Credits: sungroupvn.com.vn

The Quang Ninh People’s Committee confirmed Sun Group as the only company allowed to develop a casino in Vietnam.

Vietnam.- After rumors of Vietnam allowing another operator to develop a casino in the country surfaced in late March, the Quang Ninh People’s Committee sent Sun Group a letter to confirm the company as the sole company with casino rights in the territory.

FLC Group joint-stock Co was the company that was pushing for the permission to build and operate a casino in the Province of Quang Ninh. The group cofounded by Vietnamese billionaire entrepreneur Trinh Van Quyet, would’ve invested at least US$2 billion in the new casino project. The gaming and touristic venue would’ve offered 4,000 hectares of latest entertainment attractions, for both foreign and possibly domestic visitors. The company has the right to apply for a hotel and a golf course, among non-other gambling options.

As revealed by the Vietnam Investment Review, the document was signed by the Deputy Chairman of the Committee Nguyen Van Thanh, who said that “Sun Group is the province’s strategic developer, and was chosen by the province to report to the prime minister as the only developer of the luxury resort-entertainment complex with a casino, according to the master plan approved by the prime minister, and allowed to pilot allowing Vietnamese citizens to play in the casino.”

Although the government of Prime Minister Nguyễn Xuân Phúc has allowed Vietnamese residents to enter casino venues since mid-March, local players have not massively embrace their new right. According to regional newspaper Lao Dong, Vietnamese citizens are not well-guided about the new measure, which would only last until the end of June. The government’s resolution determined that only Vietnamese players over 21 years old and with a monthly income of US$400 would be able to gamble.