The addition of a casino on Phu Quoc island in south Vietnam has reportedly been given the green light by the authorities there.
According to a recent report from Vietnamese online newspaper, VnExpress, the people’s committee of Klen Giang province announced that Prime Minister Nguyen Xuan Phuc approved the inclusion, with the media outlet adding that including the casino, VND50 trillion is the island resort projects overall investment.
Phu Quoc Tourism development and investment JSC reportedly promoting the Phu Quoc Casino project, with the latter of two controlled Vietnamese Conglomerate Vingroup, which in turn is controlled by billionaire property developer Pham Nhat Vuyong.
There are many casinos in the country, but the Vietnamese citizens were prohibited from gambling within its borders unless they possessed a foreign passport. Foreigners have been permitted to visit for as many as 30 days without a visa. The Ban restricting locals from gambling limited the prospects of any casino there to a mere 20 percent of the visitors Vietnamese island who possess foreign passports, according to a report.
Customers are reportedly required to be aged 21 or older and have a minimum monthly income of VND10 million. Only those casinos Resorts possessing a total of minimum capital investment of US$2 billion, which includes both gaming and non gaming facilities, are eligible to permit entrance to locals to gamble.
According to a report, the average annual income in Vietnam was around $2,200 last year.