Sun Group confirmed as the only company with casino rights in Vietnam
The Quang Ningh People’s Committee have sent Sun Group a letter in an attempt to quash the rumours that Vietnam would allow another operator to develop a casino in the country. The letter confirmed that Sun Group would be the only company with casino rights in the region.
Founded by millionaire Trinh Van Quyet, FLC Group Joint-stock Co. joined the increasing number of foreign and local investors betting on Vietnam’s new legislation, which allows locals to gamble will pay off.
FLC Group joint-stock Co. was seeking permission to build and operate a US$2bn, 10,000 acre casino and resort in the Province of Quang Ninh.
The opening of Sun Group’s casino marks a monumental change in Vietnam’s gambling law. The country launched a three-year pilot programme, allowing local Vietnamese citizens to enter casinos as well as football, horse and greyhound sports betting.
However, citizens are only allowed to gamble if they are 21-years old, have a regular monthly income of at least VND10m ($454.50) and have no history of criminal activity.
As published in the Vietnam Investment Review, the document sent to Sun Group was signed by Nguyen Van Thanh, Deputy Chairman of the Committee outligning: “Sun Group is the province’s strategic developer, and was chosen by the province to report to the prime minister as the only developer of the luxury resort-entertainment complex with a casino, according to the master plan approved by the prime minister, and allowed to pilot allowing Vietnamese citizens to play in the casino.”
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