Vietnam Cautiously Embraces Casinos

Vietnam’s first casino, and MGM production on the southern coast, is under construction and expected to open next year, highlighting the inherent dissonance in the communist/capitalist country.

The finance ministry has proposed rules for casinos.  Among them are requirement that all casino projects are invested with a minimum of $4 billion and include 5-star hotels.  Also, only foreigners and overseas Vietnamese with foreign passports would be allowed to enter casinos in Vietnam or play electronic games that can pay out money.

In addition, casinos will be isolated from other business areas and have their own entrances, camera systems and firefighting equipment.  And they won’t be able to serve food or drinks.

Violators of the new casino law could be fined nearly $5,000.

Vietnam’s tentative entry into the casino business is a big step for its tourism industry in a region of the world with high rollers who are fond of gambling.  It also strengthens connections between the US and Vietnam because of the expertise of MGM and other American companies.

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