Casino: Beware of Golf's Mistakes

Discussing the draft on casino business activities on April 17, most members of the National Assembly expressed their opinion that it is necessary to issue a decree for this sensitive business sector.

The business of prize games in general and casinos in particular in Vietnam is not new. In fact, since 1992, the Government has piloted business in Do Son (Hai Phong). This is a business sector that is not encouraged, so according to the Minister of Finance Dinh Tien Dung, over the past 20 years, there have only been 7 businesses nationwide licensed to operate casinos.

Of these, there are 5 small-scale projects (about 15 gaming tables and 80 gaming machines/enterprise), 2 large-scale projects in Quang Nam have been approved in principle by the Prime Minister, and the Ho Tram Project in Ba Ria - Vung Tau (a complex of restaurants, hotels, meetings and shopping with a total investment of 4.2 billion USD, a total of 180 gaming tables and 2,000 gaming machines, phase 1 has been completed with 90 gaming tables and 1,000 gaming machines).

“Casino business for foreigners and overseas Vietnamese in recent times has contributed to attracting tourists, creating jobs and increasing budget revenue for localities where businesses operate in this field. In 2012, the revenue of the 5 operating casinos was about 930 billion VND, contributing about 254 billion VND to the state budget. Each casino business attracts 200 - 500 direct workers. The Ho Tram project alone is expected to attract about 2,200 jobs when it comes into operation,” said Mr. Dung.

It is undeniable that casino business has contributed to attracting tourists, creating jobs, increasing state budget revenue, especially this is a field that has been attracting the attention of foreign investors. Therefore, most members of the National Assembly Standing Committee expressed their agreement on the need to issue a decree on casino business to legalize and strictly manage this activity.

Faced with the reality that many Vietnamese people go abroad to play casinos in Cambodia, Singapore, Macau..., leading to foreign currency loss and causing many social consequences, Chairman of the Finance and Budget Committee, Mr. Phung Quoc Hien proposed expanding the scope of people allowed to play casinos.

“The Ministry of Finance is studying and can pilot a program that allows Vietnamese people who meet strict and specific conditions regarding income thresholds, personal background, etc. to participate in gambling at casinos established in Van Don Special Economic Zone. After the pilot period, a summary and evaluation will be conducted to consider whether to expand the scope of Vietnamese people participating in gambling at other casinos,” Mr. Hien proposed.

According to the Chairman of the Committee for Science, Technology and Environment, Mr. Phan Xuan Dung, many people go to casinos not only to participate in “games of chance” but also to entertain, amuse themselves, and relieve stress. Casinos are also places for many “tycoons” to discuss business, sign contracts, etc. Therefore, it is also necessary to study allowing some Vietnamese people who meet the conditions to participate in casinos in special economic zones, first in Van Don and then, possibly expanding to Phu Quoc.

There are 124 countries and territories in the world that allow casino business in particular and electronic games in general. Even Singapore - one of the countries with a rather strict legal system for sensitive business areas - opened its doors to the casino industry in 2006, and they have proven quite successful in attracting tourists and foreign investment.

“Therefore, we also need to have legal documents to regulate this sensitive business activity. We do not encourage it, but we must also have an open mechanism to attract strategic investors in the construction of special economic zones,” said Vice Chairman of the National Assembly Uong Chu Luu.

However, according to Mr. Luu, this is a sensitive business field, so most countries limit the number of casinos, participants, and business locations. Even in the United States, which accounts for 52% of total global casino revenue, not all states allow this sensitive business field.

“We do not prohibit it, but there must be strict regulations to control casino business activities, casino participants and the number of casinos. The conditions for establishing casinos must be much higher than other entertainment businesses. Otherwise, this sector will follow in the footsteps of the golf course business sector that has made us pay the price,” Mr. Luu warned.

According to vov