The casino trial period in Vietnam may be extended by two years

The casino trial period in Vietnam may be extended by two years

Vietnam’s Ministry of Finance requested the extension of the country’s pilot casino program, according to a VietnamNet report. The ministry requested two more casinos to be added to the program, according to the report.

Vietnam temporarily allowed locals to play games of chance. Only one of the two casinos that were allowed to offer gambling to the Vietnamese audience is operational at the moment. The future of Vietnamese gambling is uncertain because the trial period is about to end.

The trial period was extended by the Ministry of Finance this March. According to the report, it has submitted an official request to the Party Personnel Committee. The ministry of finance has a reason for the request. The ministry couldn’t assess how casinos would fare in the country because of the outbreak. The program should be extended by at least two years and two new casinos should be added according to the Ministry.

The Corona Resort & Casino is the only casino in Vietnam. Van Don is the second casino allowed to offer gambling products to locals. The latter is still not open.

The results of the casino trial are not certain. The Corona Resort & Casino was hit hard by the Pandemic. The casino earned only $138 million because it performed poorly.

According to the Ministry of Finance, the gambling venue attracted over two hundred thousand players. Only two-thirds of the visitors were from Vietnam, with the rest being foreign.

The Ministry of Finance is said to have proposed two more casinos in Da Nang City and Khanh Hoa Province.

Vietnam’s tourism may be able to recover from the negative effects of the Pandemic. More than half a billion has been invested by the government in Da Nang City and the Khanh Hoa Province. The money was used to support notable resorts in the two regions, helping them build an infrastructure that will attract foreign visitors.

There was a proposal to add casinos to five-star hotels in Ho Chi Minh City. Local activists claimed that the idea would boost the city’s nightlife and economy.

Summary:

Vietnam launched its three-year trial in 2019, temporarily allowing locals to play games of chance. Three years later, this trial period is about to expire, making the future of Vietnamese gambling uncertain. The Ministry of Finance first considered an extension of the trial period this March. Now it has submitted an official request to the Party Personnel Committee.