Khánh Hòa, Đà Nẵng and Bình Thuận each proposed a casino project, and the Ministry of Finance asked the Prime Minister to approve two of the three, according to a report submitted to the Prime Minister on casino management and draft alternatives to Decree 03/2017/NĐ-CP1. The proposals were reported on 25 February 20221.
The three proposals were a casino business project on Hòn Tre island in Nha Trang City, Khánh Hòa; a project at the Sun World Bà Nà Hill tourist area in Đà Nẵng; and a project in the Đại Dương valley tourist area in Phan Thiết City, Bình Thuận1. The ministry recommended adding casinos only at Bà Nà Hill, invested by Sun Group, and on Hòn Tre island, invested by Vinpearl JSC1. Sun Group has invested VNĐ16 trillion (US$695 million) in the Bà Nà Hill project, and Vinpearl JSC has invested VNĐ25.7 trillion in the Hòn Tre complex, which includes a hotel, an amusement park, a golf course and a convention center1. The ministry did not agree to the Bình Thuận proposal, saying that although the locality had grown in tourism, the number of international visitors was not enough, and that the Hồ Tràm casino project in Bà Rịa-Vũng Tàu Province, which is operating inefficiently, is located near Bình Thuận1.
On the pilot that lets Vietnamese citizens gamble, the ministry proposed extending the trial period from three years to five, until 2024, because the current period runs from 2019 to 2022 and the pandemic made a full assessment difficult1. There are nine casinos operating nationwide, eight of them open only to foreigners, with Phú Quốc the only one piloting entry for Vietnamese2. Revenue minus payment costs was more than VNĐ3.2 trillion, and the project is losing more than VNĐ3.9 trillion1.
The ministry also proposed adjusting Decree 03/2017 on casino business conditions, covering investment in difficult areas such as Vân Đồn in Quảng Ninh, management of gaming machines, tables and equipment, inspections and penalties, advertising, and transfers of investment capital2.
"The proposals for casino investment needed to be considered carefully because the current casino business was not effective or even loss-making"
What it means for players
Vietnamese citizens can currently gamble only at the Phú Quốc casino under the pilot, and at the Vân Đồn casino once it opens, since both were selected for the trial1. The other eight operating casinos admit foreign passport holders only2. If the extension is approved, Vietnamese entry at the pilot venues would continue to 2024 rather than ending in 20221. No change to entry rules for foreigners has been reported. Details on which games are offered at these venues are covered in our guide to table games at Vietnam's casinos, and entry rules for locals and foreigners are set out in Can Vietnamese citizens enter a casino? and Can foreigners gamble in Vietnam?.
What happens next
The Ministry of Finance has submitted its report and proposals to the Prime Minister, and the decision on both the two new projects and the pilot extension rests with the Prime Minister and competent authorities1. No date for that decision has been reported. The draft alternatives to Decree 03/2017 would also need to be settled before any licensing1. The status of the Bình Thuận proposal, which the ministry did not support, has not been reported beyond that recommendation1. Background on projects already approved or under construction is in our guide to new and planned casinos in Vietnam, and the general legal position is covered in Can I gamble in Vietnam?.
Sources2 sources
- Three localities propose opening casinos, vietnamnews.vn
- Tiếp tục thí điểm người Việt chơi casino, tienphong.vn
