Business
Vietnam looks for ways to regulate gambling for citizens
  • | VietNamNet, dtinews.vn | August 18, 2014 04:43 PM
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Vietnamese authorities have a couple options on the table for the efficient regulation of legal casino gambling for Vietnamese citizens, including a possible requirement to verify income.

Recently the Ministry of Finance (MoF) proposed that the government allow Vietnamese citizens aged 21 or over to visit casinos.

However, in order to better control the operations of casinos and and prevent social harms related to the industry, Vietnamese authorities are considering making it necessary for citizens to prove their monthly incomes before entering a casino.

 

Illustrative photo.

An anonymous official from the MoF said they had proposed that the government divide Vietnamese gamblers into two groups. Frequent gamblers would have to prove a minimum monthly income of VND15 million, while others would have to prove they have equivalent assets which could be used as collateral.

Nguyen Truong Son, chairman of the Bao Son Group, said that casino managers should learn from the experience of golf course operators, who require players to pay for membership. 

However, some warned of the possible pitfalls in such a policy. Professor Ha Ton Vinh, who studies the field, said.“It’s no easy task to verify incomes, as some may try to find loopholes, such as taking out loans in order to falsely inflate their incomes.”

He suggested that collecting entrance fees could be a good way to minimise risks. Currently, he said, Singapore is the only country that collects such fees, which usually reaches SGD2,000 per year for locals.

Vinh suggested, that for Vietnam, the fees should be in the range of USD50 to USD100. The MoF would negotiate with investors over any such entrance fee requirement, he added.

He went on to suggest that other steps might be taken to mitigate harmful social effects, such as the MoF assigning special envoys to casinos to verify gamblers.

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