Vietnam gains position in the global market
Vietnam is considered a potential option by international gaming operators.
Vietnam.- Whilst the Vietnamese government is debating further legislation to open the casino and gaming market, international operators have shown interest in developing the local industry. Vietnam could update its gaming laws to compete with latest Asian novelties in the casino sector, such as the Japanese, Cambodian and Philippine markets.
As the government could allow residents’ participation at casino activities, further international operators would be interested in investing in Vietnam. So far, gaming venues were only open for foreign players, reducing the potential profits for the operating companies.
“International casino developers have been circling Vietnam given the recent lifting of a ban on local gambling,” stated the Commercial and Investment Real Estate company, Jones Lang LaSalle (JLL), according to GGRAsia. Many hotels across the country have chosen to add electronic gaming to boost revenues.
Meanwhile, a new guide for the casino industry will start to be enforced as the Ministry of Finance’s Department of Banking and Financial Institutions has released a circular that implements the new regulations announced in the Decree 03/2017/NĐ-CP, issued in March. The ministry has now the authority to grant business licenses to casino and gaming services and has set the parameters for investing in the industry.
