Politics hobble Vietnam’s gaming potential

Vietnam’s slow-moving legislative process, combined with the burden of the existing regulations, means the country’s full potential as a gaming destination won’t be reached until the next decade at the earliest, industry experts say. Under current laws, Vietnam requires new casinos to be located in integrated resorts with a total investment of $4 billion and the government decides where they are to be sited. The gross gaming revenue tax is now 35 percent and only holders of foreign passports are allowed to enter casinos and electronic gaming parlours. Although there has been a lot of speculation that there will be some relaxation of these rules, it now doesn’t look likely to happen for some time to come. Shaun McCamley, a partner in Global Market Advisors warned: “Due to the recent political changes across senior government positions, the gaming expansion debate will likely be placed on the backburner. “My feeling is that the...

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