Several brands consider Vietnam as the next international gaming hub, if the country loosens up regulatory.
Vietnam.- Gambling salons are only legal for tourist players in Vietnam, which does not stop the fast growth of operators’ businesses in the Asian country. Furthermore, the bets on Vietnam multiply as Macau, its nearest competitor, is facing the biggest revenues decline in its history.
This year, the country received interesting proposals to expand the gaming industry. The latest one was made by local investors, under the supervision of property developer Imex Pan Pacific Group, to install a luxury casino and resort in Ho Chi Minh City for US$4 billion. The increasingly targeting is leading to consider further chances in Vietnam gaming regulation to explode the sector at its maximum.
In addition, the possible changes are attracting famous brands, such as Las Vegas Sands, to invest in the country. “LVS has been interested in Vietnam for years. Mr Adelson has been there multiple times and other members of our development team have visited on many occasions. Certainly not an interest that has transpired recently, it’s a market we’ve long pursued,” commented Ronald Reese, senior vice president for Global Communications and Corporate Affairs at Las Vegas Sands to Forbes.com.
The national Communist Party, leader of the government, could be assessing the current situation to determine its position as to total legalisation of casino for residents. Industry’s calculations indicate that the eight legal casinos and the 20 slot clubs in operation today could achieve US$300 million in annual gaming revenue for Vietnam, an interesting number when it comes to national investment. Vietnam casinos legalisation could change the rules for the economy, tourist and employment rates.