Vietnam to Include Two More Resorts in Local Gambling Plans

Asian countries generally take a dim view of gambling when it involves their own citizens playing games of chance. However, attitudes may be changing slightly as the global pandemic has bitten in tourism revenue and new sources of income are sorely needed. As a result, Vietnam’s Ministry of Finance has suggested that its pilot program under which locals are allowed to gamble at specific casinos should be expanded to include two more properties, and extend the initial trial period by another two years.

Pilot Program Created to Save the Economy

Vietnam first introduced the legislation back in 2017 and outlined a plan under which locals would be allowed to gamble at select casinos in the country between 2019 and 2022. Now, the government wants to expand this period, mostly because of poor data collection during the period. The only casino to be currently operating is Corona Resort & Casino in Phu Quoc with two others based in the district of Van Don in Quang Ning Province remaining closed for the time being.

The proposal is not surprising as casinos faced difficulties to host gamblers over the past two years. Vietnam, like many other countries in the region, was cut off from the rest of the world mostly because of the COVID-19 pandemic, subsequent flight cancellations, and a drop in tourists from the region and beyond. Now the plan wants to add more casinos located in Da Nang City and Khanh Hoa Province.

Both locations have already seen substantial investment going their way. The Da Nang City project has received VND 16 trillion or roughly $695 million in funding and the other project, in Khanh Hoa Province, has received VND 25.7 trillion or roughly $1.1 billion. The expansion of the program and inclusion of new casinos aligns with the needs of local casino and resort businesses as well.

COVID-19 Prompts Government to Change Stance on Gambling

When the COVID-19 pandemic began, many business owners appealed to the government to consider lifting a prohibition on locals to play at resorts. Those calls were met mostly with the approval of lawmakers who acknowledged the extraordinary conditions that the country faced and the need to create a framework whereby the financial impact of COVID-19 can be mitigated.

As a result, the pilot program that is currently active allows Vietnamese residents who are at least 21 of age and make at least VND 10 million a month or $431 to participate in gambling activities in the designated resorts. All entrants are subject to a VND 1 million fee that is paid for every 24 hours of stay.

Meanwhile, Vietnam has been busy tackling gambling-related fraud at home. In December, the country took down a $3.8 billion crypto ring. Illegal gambling remains a notable problem in the country as local gamblers seek relief online.