International operators flock to Vietnam

International casino operators have their eyes on Vietnam again after the latest gaming decree opened up casinos to locals, VietnamNetBridge reports.

It is understood that Las Vegas Sands, Banyan Tree, Crown Resorts, Chow Tai Fook and Sun City are closely following developments in the country.

With the new decree to take effect in March, investors will only have a few weeks to prepare the plans for their casino projects.

The decree sets limitations on the number of Vietnamese going to the casino, and operators will need to invest a minimum of $2 billion.

In recent visit from a representative of Las Vegas Sands to Hanoi, the executive noted that Vietnam, together with Singapore are seen as two strategic points of the group.

In an investor conference in Tokyo this week, Las Vegas Sands CEO Sheldon Adelson said it was Japan that was the “holy grail” of business opportunities.

The casino operator is planning to spend up to $10 billion on an integrated resort in Japan, which would far exceed its investments in Singapore, and presumably, Vietnam.