Central province seeks approval for 2nd casino
In this article (5)
Khanh Hoa authorities have recommended the issue of a license for Vinpearl Company to build a $2.24-billion casino in the central province.
The casino is proposed to be built on Hon Tre Island near famous beach town Nha Trang along with tourism and amusement components.
It requires approval from the Politburo, which is at the apex of the Communist Party, and government. If approved it will be the second in the province after an earlier, $2.02-billion casino received the green light in 2019.
The Ministry of Finance said an assessment needs to be done on the impacts of the proposed casino on local tourism and socio-economic growth.
The government has for long treated gambling as a social evil and prohibited Vietnamese from entering casinos.
But in January 2019 it opened certain casinos to Vietnamese as part of a three-year trial and will continue to do so on a case-by-case basis.
Vietnamese who want to gamble in a casino must be over 21, earn a minimum of VND10 million ($430) a month and have no criminal record or objections from their family.
A group of casino owners recently sought the government’s permission to let Vietnamese in to make up for foreigners’ absence due to the Covid-19 international travel restrictions.
Vietnam has eight casinos which earned revenues of VND2.5 trillion in 2019, according to Ministry of Finance data.
Questions & Answers
Q.What entity needs to approve the proposed Vinpearl casino project?
What entity needs to approve the proposed Vinpearl casino project?
The proposed casino project requires approval from the Politburo, which is the Communist Party's highest body, as well as the government. This is necessary for the license to be issued to Vinpearl Company.
Q.What is the key difference in how casinos are treated for Vietnamese citizens now compared to before January 2019?
What is the key difference in how casinos are treated for Vietnamese citizens now compared to before January 2019?
Before January 2019, the government prohibited Vietnamese from entering casinos, viewing gambling as a social evil. Since then, it has opened certain casinos to Vietnamese on a case-by-case basis, initially as a three-year trial.
Q.What are the financial and age requirements for Vietnamese citizens to enter a casino?
What are the financial and age requirements for Vietnamese citizens to enter a casino?
Vietnamese citizens who wish to gamble in a casino must be over 21 years old. They also need to earn a minimum of VND10 million, equivalent to $430, per month to be eligible for entry.
Q.What was the main reason casino owners recently requested permission for more Vietnamese entry?
What was the main reason casino owners recently requested permission for more Vietnamese entry?
Casino owners recently sought government permission to allow more Vietnamese citizens into casinos. This was to compensate for the lack of foreign visitors due to the international travel restrictions caused by the Covid-19 pandemic.
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