Under current laws, casinos are open only to foreigners, while Vietnamese can only go to casinos in Phu Quoc and Van Don, which admit Vietnamese under a pilot program. They have to satisfy requirements on personal records, age, financial capability and behavorial capability.

There are nine casinos in Vietnam, including six small and 3 large ones which employ 8,500 people. In 2023, the state budget collected VND2.541 trillion in taxes from casinos.

Phu Quoc casino started in January 2019. Its consolidated revenue in 2019-2023 reached VND6.404 trillion, and it paid VND3.679 trillion to the state budget.

Though the business performance improved in 2023, the casino has reported a loss of VND3.724 trillion because of the high amortization and interest payment in the first phase of operation.

Phoc said 295,943 Vietnamese went to the casino in 2019-2023, accounting for 62 percent of total players, while the number of foreigners accounted for 38 percent (179,507). 

The players at Phu Quoc casino are aged 21-97 and many were around 39.

Phoc said the Ministry of Finance (MOF) doesn’t have a plan to allow Vietnamese to go to casinos on a large scale and other casinos will not be licensed to admit Vietnamese in the immediate time.

Choosing investor in international football betting

According to Phoc, the government allows one business to operate in international football betting on a trial basis for five years.

MOF has been requested to join forces with other ministries and branches to organize bids to choose the business in accordance with laws on bidding. Candidates must have charter capital of VND1 trillion at minimum; and have a betting system and suitable business plans.

The 2013 Law on Bidding didn’t include a provision on organizing bids to choose investors to implement business investment projects, so it was impossible to organize bids to choose a business.

In 2023, the National Assembly approved the amended Law on Bidding with additional provisions about organizing bids on investors for projects. On February 27, the government issued a decree stipulating the procedures for bidding.

MOF is drafting a decree to amend Decree 06 which stipulates the conditions for bidding, and which will suit the new laws on investment and bidding.

Luong Bang