The Vietnam Ministry of Finance is deliberating on expanding gambling options for Vietnamese citizens, with proposals to implement certain controls. According to the local news source Laodong.vn, a draft resolution indicates that citizens who satisfy specific financial criteria may be permitted to participate in casino gaming at Van Don and Ho Tram. This initiative would be on a trial basis for five years from the commencement of operations. However, the ministry has not yet outlined a precise timeline for when these changes might take effect.
Currently, Vietnam hosts nine casinos, all exclusively accessible to foreign visitors. Among these, the Grand Ho Tram near Ho Chi Minh City has been operational since 2013. Meanwhile, Van Don, a project spearheaded by the Sun Group, is in the works in Quang Ninh Province. The first phase of this VND51.6 billion (approximately US$2 billion) resort is slated to open in 2027, with full completion anticipated by mid-2032. According to XeToday, this casino is projected to feature 214 gaming tables and 2,140 slot machines.
This is not the first instance of Vietnam considering locals’ participation in casino activities. In 2016, the Politburo sanctioned a three-year pilot program permitting Vietnamese citizens to gamble at two venues: the Corona casino in Kien Giang Province, and the Van Don casino, which was still in its planning phase at that time. Entry required locals to demonstrate a monthly income surpassing VND10 million, and an entry fee of VND1 million was imposed for a 24-hour period. However, the initiative was soon hampered by the onset of the Covid-19 pandemic. Although the government extended the pilot through 2024, it yielded underwhelming results and was ultimately suspended in January.
Tim Nguyen, director of Fortuna Investments, expressed that the renewed focus on the Van Don project and the extension of the locals’ pilot program signify a decisive shift towards a more economically sustainable gaming sector. This move could potentially open up new economic avenues by tapping into the domestic gambling market, which remains largely untapped due to existing restrictions.
Moreover, reports indicate that Vietnam may reconsider the proof-of-income requirements for casino entry, opting instead to raise the entry fees to VND2.5 million daily or VND50 million monthly. This adjustment could balance the need to regulate access while also making casino participation more feasible for a broader segment of the population.
While proponents of this initiative highlight the potential economic benefits, such as increased revenue from gambling taxes and the stimulation of local economies, there are also concerns regarding potential social issues. Critics argue that expanded access to gambling could lead to an increase in gambling addiction and related social problems. They emphasize the importance of implementing robust regulatory frameworks and support systems to mitigate such risks.
As Vietnam weighs these considerations, the decision will likely hinge on striking a balance between economic incentives and social responsibility. The government’s ultimate goal appears to be fostering a controlled and profitable gaming industry that can contribute to the country’s economic development without compromising societal welfare.
The ongoing discussions highlight the complexities involved in transforming Vietnam’s gambling landscape. While the prospect of expanded domestic gambling rights offers potential economic benefits, it also necessitates careful planning and regulation to ensure positive outcomes for all stakeholders involved.
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