Vietnam to lift locals ban

Credits: Fortune.
Credits: Fortune.

Starting today, Vietnamese people will be allowed to enter gambling facilities if they comply with certain requirements.

Vietnam.- Vietnamese people are finally able to gamble at casinos thanks to the Circular 102/2017/TT-BTC, suede by the Ministry of Finance, which guides a number of articles on casino business that take effect today.

Nationals will be permitted to gamble at casinos if they prove that their income is higher than US$436, or if it’s taxable at level 3. Moreover, casinos now have to open books or issue electronic cards in order to control the people who are allowed to enter the facilities.

The new circular is expected to boost the activity in the zone and encourage the opening of casinos around the Asian country, specially in administrative-economic zones like Vân Đồn in Quảng Ninh Province, Bắc Vân Phong in Khánh Hòa and Phú Quốc in Kiên Giang. The first province recently allowed real estate developer Sun Group to build a US$2 billion integrated resort on 2500 hectares in the special economic zone. The other two provinces are urging the government to pick casinos in their territories to trial entry for Vietnamese people.

The entities allowed to let Vietnamese players gamble have to declare the number of people who buy tickets and then pay the proceeds from the sale to the State budget. Union Gaming Securities Asia Ltd said that the almost 30 gaming facilities in Vietnam make the market worth US$1.2 billion approximately.

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