AS MALAYSIA SLIDES, NEW ‘TIGER ECONOMY’ AWAKENS: VIETNAM TO ALLOW SOME CITIZENS TO GAMBLE DURING 3-YEAR TRIAL

Vietnam’s government will allow some citizens to gamble at select casinos during a three-year trial period, according to a new decree.

The law, which goes into effect March 15, sets stringent guidelines for casinos applying for the trial license and Vietnamese who want to gamble. The law was announced on the government’s website last night. The posting does not specify when local gambling licenses will be issued.

Casinos that will be considered for a license allowing locals to gamble must commit a minimum of $2 billion to its complex. Vietnamese that are at least 21 years old and have a monthly income of at least 10 million dong ($443) will be allowed to enter casinos. They will also be required to pay 1 million dong for a 24-hour casino ticket or 25 million dong for a month-long pass.

The government will re-assess the local gambling licenses after the three-year trial ends, according to the government posting.

– /www.bloomberg.com

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