A plan to extend Vietnam’s pilot program for locals casinos is still under consideration.
The extension request was first reported in February, when the country’s Ministry of Finance proposed adding two casinos to the list of locals venues and testing its efficacy for another two years. In August, the ministry submitted a formal request to the government’s Party Personnel Committee.
The three-year trial program, established in 2019, was due to end this year. An extension through 2024 would allow the government to assess the program’s success without Covid-19 clouding the issue, and then decide if it should be adopted on a permanent basis.
“The Covid-19 pandemic over the last two years has had a great impact on Vietnam’s production, hospitality and tourism, particularly the casino business,” said Deputy Finance Minister Nguyen Duc Chi, in comments reported by Inside Asian Gaming. “To properly evaluate the effectiveness of the pilot program, it’s necessary to extend the program two more years.”
Two casinos were to take part in the program, the Corona on Phu Quoc Island and the Van Don in Quang Ninh Province. But the pandemic has constrained travel in the past few years, and development of the Van Don project stalled. The resort has yet to open.
Ministers want to add casinos in Da Nang City and Khanh Hoa Province.
Speaking to VietnamNet, Professor Ha Ton Vinh said, “Thanks to the pilot program, the government will have suitable solutions to strictly manage casino business activities without disrupting social order. But at the same time, the policy also needs to better meet the needs of investors in large-scale casino complexes.
“To meet the needs of domestic players, besides Phu Quoc casino, there are still many large-scale casinos across the country that can be piloted for Vietnamese people to play,” he continued, citing the Ho Tram and Nam Hoi An casinos.
Per IAG, since 2019, locals added just VND141 billion (US$5.9 million) of revenues, a meager 5 percent, to the till at the Corona Resort.
