Category Archives: vietnam

Vietnam local gamblers pilot program open to all casinos?


vietnam-casinos-locals-trialVietnam’s pilot program to allow local residents to gamble in casinos appears to be less restricted than originally advertised, according to local media reports.

Last week, Vietnam’s Ministry of Finance released a draft circular adding more details to the government’s Decree No.03/2017/ND-CP, which authorized a three-year test of relaxing the country’s longstanding ban on allowing its citizens to gamble in the nation’s casinos, which are reserved for international tourists and Vietnamese nationals who hold foreign passports.

This pilot program was said to apply only at two casinos – one in Quang Ninh province in the country’s north and the other on Phu Quoc island in the south – neither of which has been built yet. But this limitation is absent from the draft circular, leading some Vietnamese media outlets to speculate that all of the nation’s casinos will be allowed to participate in the trial.

Regardless of how many casinos are eligible for the trial, the circular further details the financial hurdles local residents must clear in order to cross a casino threshold, including the ability to prove a monthly income of at least VND 10m (US $440).

Casinos are required to verify this income level through the inspection of a variety of documentary options, including personal income tax settlements, payroll stubs, rental agreements showing someone’s paying you VND 10m per month or bank statements showing sufficient interest income. Casinos have to keep copies of these documents for at least three years in case the government asks to see them.

Critics are already suggesting that these requirements will negate impulse visits to casinos, as Vietnamese nationals traveling on holiday aren’t likely to pack these documents in their suitcase unless they specifically plan to visit a casino during their trip.

Casinos will also have to issue customers with electronic cards in order to monitor their time spent on the gaming floor. These cards will be sold to the customer as a form of entry levy, similar to the one Singapore’s two integrated resorts require locals to pay in order to gamble. Vietnam’s entry levy has been set at VND 1m ($44) per day or VND 25m per month.

Vietnam’s willingness to relax its restrictions on local entering casinos – and cut the minimum investment threshold in half to $2b – has been viewed favorably by international casino operators, who maintain that the market only makes sense with a strong local component. However, the duration of this trial period may actually deter investment in the short-term.

In last week’s Q1 earnings call, Las Vegas Sands boss Sheldon Adelson reiterated the company’s interest in Vietnam, but admitted that his company was “not necessarily in love with the conditions of the three-year test period. We don’t want to spend billions of dollars and find out in three years they’ve changed their mind and they’re not going to allow locals in. So we want to see how that goes.”

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Vietnam urged to allow for sports activities betting amid strategies for Formulation one circuit in Hanoi


July 29, 2016

Vietnam urged to allow sports betting amid plans for Formula 1 circuit in Hanoi

Hanoi wants to make a Formulation one circuit in the funds of Vietnam. But to start with, the governing administration should lay the groundwork for the public acceptance of sports activities betting in the nation.

Vietnam urged to allow sports betting amid plans for Formula 1 circuit in HanoiAccording to quite a few Vietnamese new stores, the city has by now tapped a overseas team to perform a study whilst it phone calls for investment decision in the challenge.

But for the racing circuit to triumph, the governing administration demands to allow for sports activities betting in purchase “to gain far more from the sport of car or truck racing,” a resource common with the make a difference advised Tien Phong.

According to the formal, “People from around the globe, not just these in Hanoi and Vietnam, should really be authorized to location their bets. This will be a significant resource of money.”

Gambling, which include sports activities betting, is largely illegal in Vietnam, other than for a few foreigners-only casinos. The nation has been thinking about enjoyable its longstanding prohibition on sports activities betting but, whilst draft laws has been written, progress toward passing that laws remains glacially gradual.

Central governing administration spokesperson Kieu Dinh Thu was quoted by the Vietnamese information outlet that gambling remains to be a “sensitive problem,” specifically given that any “changes to existing regulations will have to be submitted to and authorised by best policymakers and lawmakers.”

In 2005, Hanoi officers prepared to open a horse racetrack in the Soc Son District, but the city’s Uk trader pulled back again from the challenge in 2007 right after learning that betting would be limited to these in just the venue.

A Formulation one circuit, nonetheless, is not Vietnam’s to start with foray into racing tracks. In March, the nation opened its to start with expert track for automobiles and bikes in the province of Prolonged An, located 30 kilometers from Ho Chi Minh Town.

Named HappyLand, the circuit was created on an space of 139,000 sq. meters close to the Vam Co Dong River. It is capable of web hosting of up to 12 racing groups for automobiles, bikes and bicycles.



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Vietnamese on line gambling internet site uses Facebook Are living movie to lure clients


July 15, 2016

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vietnam-facebook-live-online-gamblingA Vietnam-facing on line gambling internet site is working with the Facebook Are living streaming company to market place its wares to punters.

In accordance to a report by Zing.vn, a Facebook admirer web page named Co Bac Vip (VIP Gambling) not long ago streamed a 45-moment movie of a woman in what seems to be an on line gambling stay vendor studio taking part in the preferred Vietnamese xoc dia video game, in which coin-formed tokens are shaken in a bowl, which is then inverted, revealing the fortunate (or not) end result.

The movie was performed in a loop all working day, attracting around 54k views and two,a hundred reviews. The web page incorporated back links that took end users to Cobacvip.com, an actual on line gambling internet site where players could wager genuine cash on xoc dia and other on line casino video games or bet on sports activities.

Casino gambling is unlawful in Vietnam, except you are a overseas vacationer or a Vietnamese citizen keeping an global passport. The authorities is toying with the thought of comforting these limitations, but they’ve been saying that for a whilst, and right up until that happy working day comes, regional residents’ only selections are underground gambling dens, casinos found throughout the border in Cambodia or internationally licensed on line gambling internet sites.

On-line sports activities betting is also unlawful, a point underscored by a lot of busts of internet sites taking wagers on the Euro 2016 soccer match. The most popular bust observed 23 people today detained for their connection to a ring that managed around $340m in soccer wagers.

The site’s ringleader managed to evade the authorities’ grasp right up until this week, when forty three-yr-aged Bui Quang Duong was arrested in Hai Phong. Thann Nien News quoted law enforcement saying that when Duong learned of his henchmen staying arrested, he fled by boat to a smaller town in Quang Ninh province. Recognizing the inevitable, law enforcement say Duong has admitted his guilt.

Vietnam’s Penal Code imposes harsh penalties on betting organizers, but bettors are matter to in the same way harsh penalties primarily based on the measurement of their wager. For bets below VND 50m ($two,240), bettors experience fines of VND five-50m and jail terms of 3 months to 3 several years. Wagers higher than VND 50m will land you in jail for two to 7 several years.



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Results Dragon expands gaming small business with stake in five-star Vietnam hotel


April five, 2016

Success Dragon expands gaming business with stake in 5-star Vietnam hotel

Gaming solutions provider Results Dragon International Holdings Ltd. is increasing its reach, especially in Vietnam.

Success Dragon expands gaming business with stake in 5-star Vietnam hotelVery last week, the Hong Kong-stated business declared that it is acquiring a 45 p.c stake in a five-star hotel—and land for additional development—in the coastal metropolis of Danang. In a filing with the Hong Kong Stock Exchange, Results Dragon said it would pay a complete thing to consider of US$14.13 million (HKD109.65 million) for the total issued share cash in Vabis Setting up Consultants and Engineering Ltd.

Vabis will hold a 45 p.c stake in a keeping business to be incorporated in Vietnam, which, in switch, would personal the hotel and the plot of land, Results Dragon said.

The hotel, discovered as the One particular Opera Danang Lodge, is a 24-storey, five-star hotel and professional complicated with basement car park in Vietnam’s fourth-greatest metropolis. The hotel has a complete site space of 1,916 square meters and a complete floor space of about 28,493.85 square meters, with an extra 3,285 square meters vacant ton which is supposed for use when the hotel expands.

The offer also involves the digital gaming device club operated in the premises of the hotel.

Nonetheless, Results Dragon warned the acquisition “may or may not materialize” mainly because it is conditional upon the “satisfaction of the conditions” established out in the settlement, between other matters. The hotel is presently in the course of action of acquiring the vital small business certification for the procedure of digital video games small business.

Late previous 12 months, Results Dragon created two deals to regulate digital gaming devices at gaming golf equipment in two five-star resorts in Vietnam—at the Le Meridien Lodge in Ho Chi Minh Town, and at the One particular Opera Lodge. Under the offer, Results Dragon will completely regulate the hotels’ digital gaming device golf equipment for an preliminary time period of ten several years.

“The administrators feel that the acquisition will empower the team to have better handle and management about the provision of management providers,” the business said in a assertion.



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