Casino investors interested in underdeveloped parts of Vietnam may soon be able to count up to 25 percent of non-casino infrastructure towards their total financial commitment, according to the Vietnam News Agency, citing a proposal from the country’s Ministry of Finance.
GGRAsia reports that the plan would benefit markets including the Van Don Economic Zone in the northern Quang Ninh Province.
The minimum capital investment of US$2 billion was reduced from US$4 billion. The rule requiring disbursed capital of US$1 billion or more before a gaming license is granted will remain in place.
In related news, Vietnam casinos have doubled their revenue in the past three years, from VND1.19 trillion in 2017 to VND2.5 trillion in 2019. Vietnam has approved 12 casino projects in total, of which eight are operational. The Corona Resort and Casino on Phu Quoc Island opened in January 2019, and is part of a pilot project to assess the impact of locals being allowed to gamble. The report said the casino got 45 percent, or 47,400, of its guests locally last year.
