Back in June 2013 the sector received support for a new Special Economic Zone and integrated resort on Van Don Island located in Ha Long Bay in the north. Tis is now one of four already approved Integrated Resort projects – Van Don, South Hoi An, Ho Tram and Phu Quoc. Two more IR resorts are also under consideration in Hue and Cam Ranh Bay.
resort operating the Crowne International Club which has 12 table games and 100 slots and receives a lot of Chinese players. Tere is also a VIP area with another 50-60 tables reserved for junkets. Tis casino has one of the highest GGR levels in the country generating close to $3bn of rolling chip volume. Tis casino relies on Macau junket operators for players.
Meanwhile a new casino development called HONG VAN CASINOin Mong Cai (Quang Ninh) is due to open in early 2017 whilst in January last year the law changed to allow cruise ships docked in Vietnam to continue with their casino services.
Da Nang port became the first port where international cruise ships can continue offering casino services whilst docked. Traditionally the onboard casinos have had to close down their services whilst docked in Vietnamese ports.
Of course only cruise passengers have access
but it is viewed favourably by many who see the government moving in the right direction for encouraging gambling services. It is also expected to boost cruise liner routes to Vietnam. In 2016 Da Nang was expecting 110 cruise ships to dock in the city.
CHANGES AHEAD Te election in January saw Nguyen Phu Trong
take charge as General Secretary of the Communist Party and he is not a fan of casino liberalisation so any changes have been slow. But a draft decree was issued in September for the casino sector and the ruling party’s leaders have made it clear they support the creation of a new gaming industry.
Back in June 2013 the sector received support for a new Special Economic Zone and integrated resort on Van Don Island located in Ha Long Bay in the north. Tis is now one of four already approved Integrated Resort projects – Van Don, South Hoi An, Ho Tram and Phu Quoc. Two more
IR resorts are also under consideration in Hue and Cam Ranh Bay.
Total investment for an IR is US$2bn with a minimum of $1bn required before a gaming licence is issued. Smaller casinos can be expanded or upgraded so long as they meet the requirements.
Te new draft decree includes the following points:
l Tere will be two levels of casinos – large casinos with $2bn investment and smaller casinos with investments of maximum $2bn. $10m investment would allow operators one table and 10 machines with 20 year licences issued. Previously the investment figure was $4bn.
l Gaming licences will be issued for 20 years with a one time non-renewable extension of 10 years.
NEWSWIRE / INTERACTIVE /
247.COM P89
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