While Vietnam’s casino market continues to grow, experts warn that gaps in legislation may hinder development and deter potential investors. This conclusion comes from a study conducted by Nguyen Thanh Minh Chan and Vuong Thi Tu Tuy Tuy, researchers from the Faculty of Law at Ho Chi Minh City University of Industry. The study highlights unclear investor requirements, ambiguous licensing conditions, and inconsistencies in gambling regulations as major barriers.
The researchers emphasize that Vietnam needs comprehensive gambling legislation to address the contradictions between current regulations. Such reforms could allow the casino sector to make a more significant contribution to the country’s economic growth. Since the regulated market opened in 2017, the gambling sector has shown some positive economic impacts. From 2017 to 2023, Vietnam’s Ministry of Finance reported the creation of over 10,000 jobs. In 2023 alone, the Phu Quoc casino contributed $49.7 million to the state budget.
However, gambling remains tightly restricted in Vietnam. Only licensed casinos and electronic gaming clubs are permitted to operate, and there is no dedicated gambling law; the industry is governed by a patchwork of regulatory acts. Certain conditions for gambling remain cumbersome. For instance, Vietnamese citizens must prove they earn at least $400 to enter a casino, a process that requires time and effort. Additionally, electronic gaming clubs are only open to foreigners, which drives Vietnamese players to spend significant sums gambling abroad.
“Neighboring countries like Cambodia and Singapore have more lenient regulations, encouraging many to travel abroad in search of easier gambling opportunities,” the researchers note. “Post-COVID-19 tourism recovery remains a challenge. Loosening gambling regulations could foster growth in this sector.” Vietnam’s market has attracted interest from prominent investors eager to develop new integrated resort complexes with casinos. However, unclear regulations and overly strict requirements are deterring them. For instance, legislation mandates a minimum investment of $2 billion, with half of that amount required upfront. Researchers argue that these rules fail to account for additional costs, such as infrastructure development in remote areas, which should be included in the overall investment calculations.
“To develop the gambling industry and attract investment, legislation must be transparent, clear, and balanced. Experience from international markets demonstrates that excessive demands or ambiguities in laws can act as barriers for investors and slow industry growth,” commented experts at Slots City, a company that closely examines global gambling trends and responsible gaming principles.
“Key elements of effective legislation include clear licensing conditions, social responsibility measures, and mandatory responsible gaming tools, such as spending limits, self-exclusion programs, and player assistance initiatives,” they added. “Global experience shows that such legislation creates a favorable business environment, attracts international investors, ensures sustainable market growth, and transforms the industry into a key driver of economic development.”
