Wednesday, June 7, 2023

Tag: Vietnam

Hoiana launch delayed until 2021 due to coronavirus

Hoiana integrated resort delayed vietnam
In the face of the ongoing coronavirus pandemic, Suncity, Chow Tai Fook and VinaCapital Group have taken the decision to delay the launch of their Hoiana integrated resort in Vietnam’s Quang Nam province until 2021

KN Paradise seeks casino operator for Khanh Hoa resort

KN Paradise Cam Ranh
The promoter of KN Paradise Cam Ranh beach resort, a tourism project in Vietnam’s Khanh Hoa province, announced on 25 February that the Vietnamese..

Vietnam considers easing capital rules on large casino projects

Vietnam resort projects rules
Vietnam’s Ministry of Finance (MoF) is considering easing the minimum capital requirements for integrated resort projects to help attract further investment into the country’s Special Economic Zones (SEZ).   The current regulations require a minimum investment of $2bn to build an integrated resort complex, half of which has to be paid before a registration certificate - an essential step in the...

Novomatic premium supplier to Vietnam’s new Corona Casino

Novomatic, supplier, Vietnam, Corona, Casino
Novomatic, supported by its Asian distributor Jade Entertainment and Gaming, provided a range of gaming terminals, the casino management system and media technology for Corona Resort and Casino’s gaming floor. The new Corona Resort and Casino on Phu Quoc, the largest island in Vietnam, selected Novomatic as its premium supplier to provide a range of gaming terminals, the casino management...

NOVOMATIC is premium supplier to new Corona Casino in Vietnam

NOVOMATIC, Corona Casino, Vietnam, supplier
The new Corona Resort and Casino on Phu Quoc, the largest island in Vietnam, selected NOVOMATIC as its premium supplier to provide a range of gaming terminals, the casino management system and media technology across its casino floor. The first of three casinos to trial local play, Corona Casino opened this month and marks the first time that Vietnamese can...

Phu Quoc IR could be allowed to participate in locals gambling trial

Vietnamese flag
Vietnam has identified the first of two casinos that will be permitted to allow entry to local residents as part of a three-year trial. The Ministry of Planning and Investment has recommended that Vin Group’s Bai Dai integrated resort project on Phu Quoc island be allowed to participate in the pilot programme. In January 2017, the government drafted Decree 03/2017/ND-CP, regulating...

Suncity’s Hoi An resort could help firm boost future presence in Macau

hoi an
  Suncity’s 34 percent stake in a new $4bn Hoi An resort could be beneficial to the junket operator’s activities in Macau, where the firm now looks well positioned to scoop up any future casino licences issued in the region.   If Suncity’s latest $4bn casino resort project in Vietnam is a success, it could have far-reaching effects on the operator’s activities...

New transaction rules from Vietnamese government prepare casinos for growth

vietnam vietnamese new
The government of Vietnam has issued new data recording regulations for casinos in the country. The recently announced Ministry of Finance Decree Number Three, effective from 12 February, requires all casinos properly record all transactions and winnings for tax collection purposes. The decree outlines that all transactions related to domestic, foreign and conventional currency must be monitored by computer software, before...

Takara Gaming Group expands into Southeast Asia

Savan Vegas Laos southeast
Takara Gaming Group (TGG), an open-source gaming platform, is entering the Southeast Asian market with two local casino groups: Golden Crown and Superrich the Best Casino.   Co-founder and CEO Raymond Chan said: “TGG is eyeing the potential of Southeast Asia. Much of the new growths has come from Chinese visitors, the major reason behind this due to the booming...

Market insight: Tax rates and red tape on investment hamper growth in Vietnam

Thua Thien Hue vietnam
Andrew M. Klebanow, senior partner at Global Market Advisors, gives the low-down on the strengths and weaknesses of the Vietnamese integrated resort market.   International Casino Review: As Vietnam’s IR offering expands, what features of the country’s casino market will make it attractive for overseas players? Andrew M. Klebanow: Vietnam remains a very appealing gaming and vacation destination. Overall, the country’s...

Market insight: All systems go for Vietnam’s casino industry?

vietnam casino market
Synergies between Macau and new integrated resorts in Hoi An and Van Don could create a South China Sea VIP Triangle suggests Eric Coskun, senior associate at IGamiX Management and Consulting.   Popular in Asia, the game of Go sees players compete to control territory, using stones to create bases which then connect to form larger shapes which come to dominate...

Thua Thien Hue province seeks approval for casino resort

Thua Thien Hue vietnam
Provincial authorities in Thua Thien Hue have petitioned the central government to increase the investment capital threshold for the Lang Co Laguna beach resort to $2bn and to allow the project to include a casino.   The $2bn figure is necessary to qualify for a casino resort to be considered eligible, under the terms of a government decree issued in January,...

The Big Kahuna: Third phase of Ho Tram Strip project announced

ICR - Kahuna Vietnam Ho Tram
The third phase of the Kahuna Ho Tram Strip project is scheduled to start development during the fourth quarter of 2017, the Ho Tram Project Company (HTP) has announced.   The Kahuna Ho Tram Strip is a 244-key development located adjacent to the northside of The Grand and will feature a combination of 164 one and two bedroom condominiums, in addition...

Proxy betting: a friend indeed for Asia

ICR - Proxy Betting Shaun McCamley
Shaun McCamley, Partner at Global Market Advisors LLC and Head of Asia Operations, discusses the growing significance of proxy betting revenues for Asia’s grey markets.   Proxy betting is booming in Asia’s grey markets, with live streaming of table games thought to be pulling in a chunk of Macau’s missing VIP billions. In early 2016, industry analysts estimated that proxy betting’s contribution...

Casinos resorts rising on Cambodia’s borders

ICR - Cambodia
A Vietnamese firm is making good progress on its multi-million dollar casino resort project in Cambodia. Pressed close up to the border of Vietnam, the casino has high hopes of luring Vietnamese gamblers. The casino story, however, is not so positive on the country’s other border with Thailand.   Plans for Empire World City, Cambodia’s upcoming casino resort, currently being constructed...

Sun Group’s Quang Ninh venue marks the dawn of Vietnam’s casino industry

ICR - Vietnam Quang Ninh Sun Group
Quang Ninh’s local government has clarified that Sun Group are the sole developer with permission to build a new luxury resortentertainment complex and casino in Van Don Economic Zone. With the green light flashing, the company is now proceeding with infrastructure improvements which look set to make the region a hub for Chinese tourism.   The regional government of Quang Ninh...

Casino industry keeps a close eye on emerging Vietnamese market

Casino Review - Vietnamese market
Trinh Van Quyet is betting $2bn that the Vietnam government’s new legalisation allowing locals to gamble will pay off big. However, the company still faces a major hurdle as the government has not yet indicated if the new venue will be one of the locations where nationals are allowed to gamble.   FLC Group Joint Stock Co, has joined a growing...

Vietnam lifts its last line of defence on betting

Casino Review - Vietnam line of defence betting decrees
In a bid to expand the tax base and attract more inward investment, Vietnam’s Communist Party lifts its last line of defence, issuing two decrees in February that would allow its citizens to engage in casino, racing and international football betting.   Change is afoot in the old-Old World, a vast corner of the planet once awash with anti-gambling sentiment. In recent...

Vietnam to allows locals in casinos on three year trial

Vietnam’s Communist Party is continuing to keep observers on their toes, by once again reversing their position on locals visiting the country’s casinos. But this time for the better.   While it is still illegal for Vietnamese nationals to place wagers in local casinos, hopes had been kept alive that this would be reversed by a draft decree floating its way...

Vietnam to continue banning locals from casino floors

Casino Review Vietnam
Vietnam’s ruling Communist Party has decided against lifting its long-standing ban on locals visiting the country’s 30 casinos, potentially snuffing out hopes for the region as the next casino hub.   In its latest draft decree, Vietnam’s Ministry of Finance confirmed this week that casinos will still not be permitted to take wagers from anyone without a foreign passport. The announcement not...

First step clear for Grand Ho Tram airport

Casino Review Ho Tram
In a bid to streamline its flow of visitors, an attempt by the Ho Tram Project Company to build an airport nearby has been given the green-light from local government.   According to a report in online Vietnamese news outlet VietNamNet Bridge, local authorities in Ba Ria-Vung Tau province have given the go-ahead to plans by the Ho Tram Project Company...

New government, but no change for gaming in Vietnam

Casino Review Vietnam Gaming
Local press in Vietnam reports that the latest decree from the country’s finance ministry will maintain its “no locals” stance on casino entry – despite calls for the contrary both at home and abroad.   The government of Vietnam has maintained that its citizenship will remain banned from entry into any of the country’s casinos, despite calls from within its Politburo to...

Saigon Cuu Long calls in Hilton for new Ho Chi Minh venture

Saigon Cuu Long Hilton Minh
The Vietnamese developers behind a new gaming destination in Ho Chi Minh City have secured the partnership of Hilton Worldwide, which will head up hotel operations at the upcoming property.   The Saigon Cuu Long Corporation declared that it had signed a deal with Hilton Worldwide last month, which will see the famous hotel chain apply its branding to the entire...

Gambling draft decree submitted in Vietnam

Media Vietnam Casino
Making the headlines this month: Vietnam has taken a step closer to relaxing its gambling policy; Casino Canberra has received permission to install a range of new games; and the Riviera in Las Vegas has gone out with a bang.   In Vietnam, a long-awaited draft decree, which for the first time allows local residents to gamble in casinos, has been...

Joint venture partners invest big in Vietnam

Ho Chi Minh City, Vietnam, Casino Resort, Choi Tai Fook Vina Capital
Two new multi-billion dollar casino resorts have been proposed for construction in Vietnam. A joint venture between Hong Kong’s Choi Tai Fook Enterprises and Vietnamese investment and real estate firm Vina Capital will see work shortly commence on a $4bn (E3.57bn) property in Quang Nam province. Meanwhile, according to a local online news service, former Las Vegas Sands Corp president Bill...

Asia – Round Up

Hoi An Asia Round Up tourist
In India, the tourist department of the state of Maharashtra is urging local government to draft legislation which would permit the operation of offshore casinos. The Maharashtra Tourism Development Corporation (MTDC) has advocated that casinos could lead to a substantial surge in tourist traffic. The Western state, whose coastline stretches over 700km along the Arabian Sea, currently permits lotteries...