The Ministry of Finance has released an impact assessment report for a new draft decree intended to replace Decree 03/2017 on casino operations. The proposed legal framework aims to resolve existing regulatory obstacles and better align with current laws.

The draft decree outlines the conditions under which Vietnamese citizens may legally enter casinos, including the following:

Must be at least 21 years old

Must have full civil act capacity

Must demonstrate financial capability

Must purchase an entry ticket

Must not be on a list of individuals restricted by family or by self-declaration

Must use Vietnamese dong (VND) to exchange for casino chips, which can be converted back if not used or upon winning

The Ministry of Finance noted that, so far, these requirements have worked effectively to control Vietnamese participation in casinos, without causing major implementation issues.

However, the requirement for financial proof has proven problematic, as it often involves presenting multiple documents, making the process cumbersome for both players and casino operators during verification.

The ministry’s review of Decree 03/2017 finds the legal framework on casino businesses largely complete, ensuring that this remains a regulated industry subject to oversight  -  from licensing and equipment imports to public security and foreign exchange monitoring.

Casino operations in Vietnam

Vietnam currently has nine operational casinos (six small-scale and three large-scale), with two more projects under construction. The major casinos are located in Ho Tram (Ba Ria - Vung Tau), Nam Hoi An (Quang Nam), and Phu Quoc (Kien Giang).

From 2017 to 2022, these nine casinos generated total revenue of 22.89 trillion VND (approximately 950 million USD) and contributed 11.81 trillion VND (approximately 490 million USD) to the national budget. Revenues declined between 2019 and 2021 due to the COVID-19 pandemic.

The Phu Quoc casino was approved for a pilot program allowing Vietnamese citizens to play from 2019 to 2024. Over five years, Vietnamese accounted for 52% of total guests but contributed 88% of total revenue. Most players were men aged 30 to 49.

The Ministry of Finance believes that certain provisions in the current decree should be revised or supplemented to reflect new policy directions, enhance regulatory efficiency, and meet practical demands.

T. Nhung