Draft guidelines on ways to implement a Vietnamese government decree regarding casino business in the country make no mention of restrictions on what casinos and which regions can take part in a pilot scheme to allow locals to gamble, it is surprising because it was only contemplated 2 casinos for the pilot scheme.
The terms of the 50-page decree the outline of which had reportedly been discussed in a committee of the country’s National Assembly came into effect on March 15. The measure would allow citizens over 21 years old and with a certified monthly income of at least VND10 million (US$443) to enter local casinos and gamble.
Casino operating companies would need to retain for three years’ documentary evidence of the financial qualification of any local players, “so that government agencies can supervise, monitor, check, and investigate”. The draft implementation guidelines also propose that casino operating firms open an account for players or issue an electronic card to each customer “in order to monitor people entering and leaving the casino according to Clause 14 of Decree 03”. The latter is a reference to the title of the January decree, which is officially known as “Decree No.03/2017/ND-CP”. (READ SO: VIETNAM REGULATES LOCALS FROM CASINOS)
Even if Vietnam imposes no restrictions on what regions or projects can run pilot schemes allowing locals to gamble, one major regional investor has indicated it will adopt a wait-and-see approach.
“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” added Sheldon Adelson, chairman and chief executive of Las Vegas Sands Corp
