Six casinos, 11 prize electronic gaming facilites to be inspected
Vietnam's Ministry of Finance will this year inspect six casinos, 11 providers of prize electronic gaming services and 10 lottery companies to ensure legal compliance, according to the ministry.
Under the laws, these companies operate in "conditional" business areas and are strictly managed.
Topping the list of casinos to be inspected is the first facility to allow Vietnamese people through its doors on a pilot basis in Phu Quoc island off the southern province of Kien Giang.
This casino, invested by Phu Quoc Tourism Development and Investment Joint Stock Company, recently announced an accumulated loss of VND3.72 trillion ($149 million) after four years of operation, due to large asset depreciation costs and interest payments.
Other casinos under scrutiny are based at the Hoang Gia and Loi Lai hotels in the northern province of Quang Ninh, Aristo in the northern mountainous province of Lao Cai, Hoiana in the central province of Quang Nam, and the International Convention Center in the northern port city of Hai Phong.
Inside the Corona Casino Phu Quoc, the first establishment to allow Vietnamese people through its doors on Phu Quoc island, southern Vietnam. Photo courtesy of Vinpearl.
For 11 companies providing prize electronic gaming services for foreigners, the finance ministry will inspect their compliance with regulatory business conditions and rules on money laundering prevention. There are 69 such facilities across the country.
Vietnam has 63 lottery businesses and one computer lottery – Vietlott, which has been operating since 2017. These companies are all state-owned enterprises.
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