Vietnam's Ministry of Finance is considering a new policy that may allow Vietnamese citizens to gamble at specific casinos within the country. The proposal plans to gradually lift gambling restrictions on local citizens through a five-year pilot project, while implementing corresponding regulatory measures.
Policy Background and Pilot Plan
The Ministry of Finance has proposed a draft resolution considering allowing Vietnamese citizens who meet specific financial conditions to gamble at two casinos in Yuntun and Hechuan. The pilot project is planned for a period of five years, starting from the official opening date of the casinos. The Ministry of Finance has not yet announced a specific implementation timetable and detailed standards for the relevant financial conditions.
Pilot Casinos and Project Details
The pilot plan will involve two casinos: the Grand Ho Tram Casino near Ho Chi Minh City and the Van Don Casino under construction in Guangning Province. The Van Don resort project is developed by Sun Group, with an investment of about 2 billion US dollars for the first phase, expected to open in 2027 and fully completed by mid-2032. Reportedly, the casino will be equipped with 214 gambling tables and 2140 slot machines.
Current Status and History of Vietnamese Casinos
Vietnam currently has nine casinos, all of which are open only to foreigners. The Grand Ho Tram Casino opened in 2013 and is one of Vietnam's earlier large-scale gambling facilities. This pilot plan is not the first attempt, as a similar pilot was approved in 2016 but was unable to continue due to the COVID-19 pandemic and other factors.
Historical Pilots and Lessons Learned
In 2016, the Vietnamese Politburo approved a three-year pilot project allowing local citizens to gamble at the Corona Casino in Kien Giang Province and the planned Van Don Casino. Participants were required to have a monthly income of over 10 million Vietnamese dong and pay an entry fee of 1 million Vietnamese dong for 24 hours. Due to the impact of the pandemic and unsatisfactory implementation results, the pilot officially ended in January this year.
Industry Views and Expectation Adjustments
Industry investors state that restarting the Van Don project and improving local access to the pilot marks an important step for Vietnam towards a more commercially viable gambling industry. Reportedly, the new policy may eliminate the income proof requirement and increase the entry fee to 2.5 million Vietnamese dong per day or 50 million Vietnamese dong per month.
Regulatory Framework and Development Prospects
The Vietnamese government is exploring the establishment of a more comprehensive gambling regulatory system, ensuring effective risk control while expanding domestic gambling access. The launch of the pilot project indicates that Vietnam is cautiously assessing the potential impact of the gambling industry on tourism and the economy, while paying attention to potential social issues.
