Month: September 2020

Việt Nam

Don't think opening a casino is someone coming to play

Posted on by Admin

01-10-2020 |  

The nightlife industry in general, casinos in particular in Vietnam, has many potentials but we are delusional to open the casino to have people come to play cards, be super profitable, set such a precondies as self-harm.

At Ho Tram casino (Ba Ria – Vung Tau) recently many times away – Photo: DONG HA

USD 14 billion was poured into 5 resort complexes including Van Don (Quang Ninh), Laguna Lăng Cô (Thua Thien Hue), Nam Hoi An (Quang Nam), Ho Tram (Ba Ria – Vung Tau), Phu Quoc (Kien Giang), of which 2 projects Phu Quoc and Ho Tram have come into operation. But both of these $2 billion casinos are in business holding back or losing money.

Experience shows that the Philippines has been very successful in planning the entire manila bay landfill into a population, a resort city invested by many famous casino corporations in the world, players have many options and create a vibrant city without sleep. The total investment in the casino business in Manila Bay is estimated at $15 billion.

It can be said that Vietnam does not have a suitable investment strategy to develop the casino business. Previously, we only licensed casinos with a capital size of USD 4 billion or more, after years of waiting, no international investors came to invest. The government has brought the investment to license the casino business project to $2 billion, nor has any international investors entered.

In addition, with a small market, many barriers, the casino tax rate (excise tax) at 35% is too high compared to casino trading countries such as Singapore, Philippines, Malaysia … The current casino business legal framework has many absurd points, not in accordance with international practice, not encouraging people in need to enter the casino is also making it difficult for resort complexes with casino business.

Do not think of super profitable casino business and only take money from foreigners when licensing casino investment, then create a series of barriers with Vietnamese people. Vietnamese people are not allowed to play casinos, which also makes foreigners lose motivation to play casinos.

If someone visit casinos in Singapore, Malaysia, Philippines, Phnom Penh and Macau, they will often meet Vietnamese players and big players everywhere. The casinos also hire many Vietnamese for convenience.

The spirit of current decrees, circulars or casino documents is limited, controlled, not supervised or managed. As a rule, casinos in Vietnam are allowed to operate 24/24, but Vietnam's casino business still lacks a lot of services. We need to revise the regulations on casino business investment accordingly.

The casino business has too many barriers to remove in time to attract domestic and foreign tourists. Thereby promoting the economic efficiency of billions of USD resort tourism populations that have been invested in many parts of the country.

Mr. Phan Xuan Anh (Chairman of Saigon Boat Company):

Nightlife area by The Canal?

Currently, the nightlife areas of Ho Chi Minh City Ho Chi Minh City is almost overloaded with familiar concentrated addresses such as Nguyen Hue walking street, Tay Bui Vien street. Space is required to stretch these points.

We are thinking about the area on the banks of The Canal, with two routes Truong Sa and Paracel. Singapore has successfully built a no-night resort with a similar landscape to river tourism products. Tourism products on the pier under the boat, along with entertainment services along the banks of the river provide a new nightlife space for tourism.

N.BINH

Professor Ha Ton Vinh has lived and worked for more than 50 years in the US and many Asian countries, teaching business administration at the University of Hawaii, University of California Miramar, visiting professor of Macau Polytechnic Institute.

Professor Ha Ton Vinh

Professor Ha Ton Vinh

By Youth

Tin mới
Tin khác
To Top

Việt Nam

Decision on investment policy of casino resorts in Van Don before September 30

Posted on by admin

01-10-2020 |  

The Government Office has just announced the conclusion of Deputy Prime Minister Truong Hoa Binh about the meeting with leaders of Quang Ninh province on August 31.

Regarding the investment policy of the high-end resort and entertainment complex project with casino in Van Don economic zone, the Deputy Prime Minister requested the People’s Committee of Quang Ninh province to urgently receive and explain the opinions of the Ministry of Planning and Investment, finalize the dossier and send it before September 15 for appraisal and report to the Standing Committee of the Government for consideration and decision before September 30.

Decision on investment policy of casino resorts in Van Don before September 30

The project has a total area of 445ha in Van Yen commune, Van Don district.

Earlier in June 2020, the Chairman of Quang Ninh Provincial People’s Committee signed a decision approving the list of projects with land use and off-budget capital to select investors for Van Don luxury resort complex in Van Yen commune, Van Don district.

The project has a total area of 445ha, of which the land for construction of the accommodation area is 50ha, the land outside the accommodation area is 270ha, the technical infrastructure land is 48ha, the forest land is 77ha.

The total investment capital of the project is VND 46,595 billion, of which the projected investment cost is VND 46,144 billion, the compensation cost for site clearance is expected to be VND 450 billion.

Project implementation period from 2020 – 2029. The objective of the project is to build a planned area to become a complex entertainment and entertainment area including services: prized entertainment, eco-tourism, eco-resorts, seminar tourism, recreation; develop entertainment products with casinos, commercial centers, hotel clusters, resorts, convention centers, golf courses, marinas …

Tin mới
Tin khác

Việt Nam

Consecutive raids on 2 casinos ownered by 'ladies'

Posted on by Admin

01-10-2020 |  

In just 10 hours, Police H.Duc Trong consecutively destroyed 2 'lady casinos', arrested more than 10 gamblers.

About 2:30 today 10.9, The Criminal Police Team of H.Duc Trong Police (Lam Dong) raided the house no. 12/2 Nguyen Xuan, Group 10, TT. Lien Nghia (Duc Trong) of "lady" Nguyen Kim Ngoc is the host. Here, the authorities caught the casino in the form of poker cards.
Authorities determined at 20:00 on September 9, Hoang Thi The Vy (37 years old), Luong The Vu (45 years old), Nguyen Hai Chau (44 years old, together with TT. Lien Nghia) and Tran Minh Tuan (52 years old, H.Di Linh, Lam Dong) and Tran Xuan Chuong and Nguyen Kim Ngoc invited each other to the mezzanine of the Ngoc house to play poker for money.
Upon discovering the authorities, Zhang and Ngoc quickly fled. Police arrested three gamblers Vy, Vu and Tuan.
Earlier, at 16:00 on September 9, Police H.Duc Trong also raided the casino at Ngoc Lan café, Quang Hiep village, Hiep Thanh commune (Duc Trong District) found 9 people playing cards for money. The casino owner is Luu Ngoc Lan (44 years old, owner of Ngoc Lan café).
Consecutive raids on 2 casinos ownered by 'ladies' - photo 1
Catching a silver drive at Ngoc Lan café
This morning 10.9, authorities detained Lan with Nguyen Thi Ngoc (55 years old), Bui Thi Lan (43 years old), Nguyen Thi Nguyet (26 years old), Ngo Thi Huong (43 years old), Nguyen Trong Chinh (36 years old, all in Hiep Thanh commune) and Hoang Van Manh (40 years old, nghe An), Huynh Minh Thang (28 years old, Dak Lak) to investigate , clarifying gambling behavior.
Currently, Duc Trong Police is continuing to investigate and handle 2 "ladies casinos" mentioned above
By Youth
Tin mới
Tin khác

Việt Nam

Play casino, why singapore without coming to Phu Quoc, Van Don

Posted on by Admin

01-10-2020 |  

In 2 resort projects with a pilot casino for Vietnamese people to play, one has come into operation. However, do strict controls make players feel "having fun"?

"Are players comfortable?"

As the first person to bring entertainment dog racing to Vietnam, Mr. Nguyen Ngoc My – Chairman of Vabis – Hong Lam Group, said: "Since 2000, I have a license to work as a greyhound racecourse, horse racing in Xuan Thanh and have 2 licenses to operate prized electronic machines in 2 hotels in Hanoi. I find it very good to have these services to serve visitors. However, where to allocate, how is the regulation, how to check the control,… there are still some unclear conditions and support for investors".

According to Mr. My, such rewarded entertainment services still focus only on foreign visitors. This is quite risky, for example, during this time the Covid-19 epidemic caused international tourism activities to "freeze", so there could be no players.

Therefore, Mr. America believes that it is necessary to have clear regulations, so that people can enjoy foreign pleasures as well.

Mr. Nguyen Ngoc My, Vice Chairman of the Association of Foreign Investment Enterprises, said that "the role of the association is important". There should be workshops for investors, government agencies to dialogue, contribute policies to develop the rewarded entertainment industry, including casinos. At that time, the authorities will know how to do it. This is a business that is considered sensitive, so the State has not yet arranged to meet with investors.

Play casino, why singapore without coming to Phu Quoc, Van Don

The opening for casino service remains fairly cautious.

"I find it ok to pilot Vietnamese people into casinos. But ask the Vietnamese again if they are comfortable playing at the casino. If they are uncomfortable, instead of booking tickets to Phu Quoc, they fly to Singapore – where they are welcomed, offered, invited to grow. Meanwhile, if they enter a casino in Vietnam, they will have to sign all these papers to one document. So the small hit people come in, and the big players they go all over the country", said Mr. Nguyen Ngoc My.

He explained that he spoke up for the interests of the country, not for the rights of any individual or business. "It's up to the Government to decide how to do it," he said.

In order for a casino to come into operation, in addition to the certificate of eligibility for casino business, the enterprise must also be granted a certificate of eligibility for security and order by the Ministry of Public Security for conditional business as prescribed in Decree 96/2016; Vh-TT&dl licenses the import of game machines and tables as prescribed in Decree 187; The State Bank licenses foreign currency revenues and expenditures and foreign exchange activities for casino business activities.

Basically, the legal framework for casino business has been fully promulgated, ensuring the principle of casino business is conditional business activities, controlled by state management agencies from the stage of licensing business activities, importing machines, licensing security, order , foreign exchange licensing to the inspection and supervision process to ensure security, social order and safety.

The Ministry of Finance evaluated: In general, casino business has met the entertainment needs of foreigners coming to work, investment and tourism in Vietnam; supporting and creating more services at hotels, attracting expenditures of foreign visitors to work, invest and travel in Vietnam; contributing to the employment of some workers in localities.

However, for casino investors and players a whole, that's not enough.

Need to change your mindset about casinos

When the Covid-19 epidemic raging, tourism "freezes", Prof. Assoc. Prof. Nguyen Thuong, Chairman of The Association of Foreign Investment Enterprises, "donated": To tourism into a spearhead economic sector, it is impossible not to build an entertainment industry including entertainment areas, evening shopping, high-quality entertainment centers, greyhound racetracks, horse racing with bets, prized sports activities and casinos. Although many licensed foreign and domestic enterprises have come into operation, the results are too modest, causing a waste of investment capital and human resources because they do not exploit potential effectively.

This is partly because perceptions and views regarding this as a "sensitive" area related to gambling are inconsistent with the national customs and customs, and risk causing more social evils without a multi-dimensional approach.

"I think it is time to consider this as an area that, if managed by a strong enough organization, can more effectively exploit the enormous potential of this field, contributing to the implementation of the policy of economic recovery and development after the Covid-19 epidemic", Prof. Dr. Nguyen Thuy expressed his views.

It can be seen that the problems that make the casino located at the "sensitive" line, reserved to open this service lies in the perception and thinking of state agencies.

Therefore, when responding to the press, Dr. Pham Trung Luong, former Deputy Director of Vietnam Institute of Tourism Research and Development, affirmed that the casino needs a mechanism and policies throughout and consistently, including policies to encourage and support businesses. For example, it is clear that during the pilot period, the tax collection is moderate and reasonable so that businesses can survive. Secondly, creating ground clearance conditions for a relatively large land area, enough for businesses to develop a proper casino complex. Thirdly, review and reduce the required documents for visitors, make sure they can prove their regular income, do not "pour" all their fortune into the casino but should not ask for too many documents leading to trouble.

Tin mới
Tin khác

Việt Nam

Revenue rises trillions, casinos amid sensitive line

Posted on by Admin

01-10-2020 |  

Casino is still considered a "sensitive" business in Vietnam. Therefore, the regulations for this activity, although more "relaxed" than decades ago, are still very strict.

Revenue rises sharply, casino still loses

The Ministry of Finance has just reported on the amendments and a number of articles of the Government's Decree No. 03/2017/ND-CP on casino business. Before Decree 03 2019, there were 8 licensed casinos in which 7 projects were operating. After Decree 03, there have been 3 general tourism and entertainment service area projects with casinos decided by the Prime Minister and granted investment certificates by the Provincial People's Committee (Laguna Lăng Cô – Thua Thien Hue casino, Phu Quoc casino and Cam Ranh casino).

The Ministry of Finance report shows that revenue and contributions to the budget from the casino business increased sharply.

In 2017, revenue from casino business activities of 8 enterprises reached more than VND 1,190 billion, paying a budget of VND 645 billion. In 2018, revenue from casinos reached VND 1,560 billion, up 31% over the previous year; state budget payment reached nearly VND 900 billion, an increase of 39% over the previous year. In 2019, revenue from casinos reached VND 2,500 billion, up 60% over the previous year; state budget payment reached VND 1,340 billion, an increase of 49% over the previous year.

Regulations related to casino business, although more "relaxed", are still very "strict".

Although revenue and budget payment have increased sharply in the last few years, many casino service providers still lose heavily. The 2019 integrated financial statements of Royal International Joint Stock Company, which operates The Royal Casino Ha Long (Royal Casino), recorded losses of over VND 72 billion. This company achieved total revenue of more than VND 235 billion, down 18.2% compared to 2018. Particularly, revenue from casino business only reached VND 97 billion, a sharp decrease. Regulations related to casino business, although more "relaxed", are still very "strict".

Ho Tram Casino (Ba Ria – Vung Tau) despite being located in Ho Tram resort and entertainment complex with an investment of more than 4 billion USD, opened in mid-2013, with 90 tables but has not reached break-even point since its opening. Audit report for 2 years 2016-2017, Ho Tram accumulated losses over 300 million USD.

Even casinos that are piloting Vietnamese players can not avoid losses. Business results by the end of 2019 showed that Phu Quoc casino has a total number of visitors of more than 105 thousand, of which Vietnamese people are more than 47.4 thousand, accounting for 45%. The rest are foreigners.

The total accumulated revenue of Phu Quoc casino reached VND 1,433 billion. In which, revenue from casino business with tax reached VND 1,381 billion, the rest from other revenue sources. The cost of paying bonuses in 2019 is VND 324 billion. The tax paid in 2019 is VND 521 billion.

Casino business results in 2019 reached more than VND 284 billion. However, according to the audited financial report in 2019 of Phu Quoc Tourism Investment and Development Joint Stock Company, the business result lost VND 2,529 billion, including casino business and other business activities.

Attracting visitors and paying taxes: Don't ban grim

Share with PV, TS economist. Can Van Luc said that: Prized entertainment activities in Vietnam as well as internationally must be associated with tourism. Therefore, it is necessary to have a policy mechanism to develop rewarding recreation associated with tourism and the night economy. Vietnam can research and develop strategies and policies to develop rewarded play associated with tourism and night economy in a methodic and professional way associated with strict management on the basis of international experience such as China Singapore, Malaysia. Due to the fact that Vietnam's tourism industry still does not have diversified products, services, tourism and entertainment.

Referring to the casino story in Vietnam, Dr. Can Van Luc noted whether encouraging this service should not be considered between benefits and harm. 'We don't encourage it too much but we shouldn't be banned too harshly because there's obviously a need. In terms of market economic principles, there is supply and demand", Mr. Force shared.

Regarding the loss of casino projects, Mr. Can Van Luc assessed that it is possible that business conditions in this field are not completely suitable or the investor is poor. The player himself is hesitant, while the investor does not dare to do it strongly because the regulations are unclear.

In order for this service to grow healthy and collect taxes, very specific business conditions are required. In the context of the Industrial Revolution 4.0, casino activities also took place across borders. Therefore, the approach and management methods of the authorities must also be different from the previous one.

At a seminar in June 2020 on prize-winning fun activities, Dr. Nguyen Anh Tuan, Director of the Institute for Tourism Development Research, said: "Casino issues have been "discouraged" in Vietnam until recent years. There are still some limitations and common problems, including planning problems. Therefore, it is necessary to have proper evaluation, appropriate awareness of casinos in particular, rewarded entertainment activities in general.

At the end of May, in addition to recommending solutions to revive the economy in general, the Association of Foreign Investment Enterprises (VAFIE) also proposed solutions to develop casino services to quickly recover and develop tourism in the country.

VAFIE said: Since 1995, the Government has piloted casino operations with the licensing of Do Son casino in the form of a joint venture, which has since attracted dozens more projects. However, the socio-economic efficiency of the prize-winning field is not commensurate with its advantages and potential. The main reason, according to VAFIE, there is no agreement on views and perceptions among ministries, branches and local governments, so there are still difficulties in forming institutions, mechanisms and organizations.

Mr. Nguyen Ngoc My, Vice Chairman of the Association of Foreign Investment Enterprises, commented: This is the smoke-free industry of the world, of the 21st century. Why didn't we? If we consider it a sensitive field, we just need to make regulations thicker than those of countries.

"In the old days, it was forbidden to go abroad to play those services. But now, Vietnamese people travel to Thailand, Singapore … visa-free. They can completely fly there to play, instead of in Vietnam, they have to even indent. The more prohibited it is, the higher the expected revenue from tax contributions,"" said Mr. Nguyen Ngoc My.

According to VietNamNet

Tin mới
Tin khác

Việt Nam

Jackpot win over half a million dollars in Las Vegas

Posted on by Admin

01-10-2020 |  

A lucky traveler brought in more than $552,000 over the Labor Day holiday over the weekend.

Visitors to the Paris Las Vegas casino hotel on September 5 won a big win by playing the Face Up Pai Gow jackpot. The guest from Connecticut wanted to keep his identity private, and only revealed his intention to spend this huge amount of money in retirement.

Your jackpot table is from Connecticut. Photo: Caesars Entertainment

That wasn't the only Las Vegas guest to hit big over the weekend. Another lucky person bet 60 cents and won up to $111,748 at the jackpot machine at the Station Casinos hotel and casino complex.

However, not all winners can leave the casino with the rewards they win. In 2016, Katrina Bookman, a female gambler at the Resrorts World Casino in Queens, New York. She played poker and the prize machine was $43 million.

Upon the announcement of his victory, Bookman was taken out of the resort by Resorts World Casino's men, scheduled to return the next day. The next day, upon going to the casino, the female tourist was shocked to hear the message: "They said, I didn't win any money. It's the card player's fault." To compensate, the hotel gave her $2.25 and a free dinner voucher with beef steak.

Representatives of New York State's Casino Control Commission, which manages gaming equipment in Queens, were also present and confirmed to Bookman this was a technical glitch. As a result, she will not receive $43 million.

"Machines rarely malfunction. We offer our sincere apologies to Ms Bookman for the inconvenience," the casino representative said. They added that the machine Bookman played could only pay a maximum of $6,500.

Bookman carefully captured his face next to the victory notice board. Photo: WABC

Earlier, Jan Flato was in the irony of seminole Hard Rock Hotel & Casino, Florida, USA in January 2017. Flato is the one who put money in the slot machine, he asked his friend Marina Medvedeva Navarro to press the "get lucky" button.

Flato reportedly won $100,000, but casino management decided to give the money to Marina after viewing the security cameras. By law, the winner is the one who presses the game start button so Flato is not at all reasonable enough to receive the bonus.

Marina did not share with her friend, she also reminded the casino security guard to keep an eye on Flato before leaving with $50,000 in cash and a cheque for $50,000. No lawyer has come out to help Flato sue, he only has a way of bringing his story to the public so that others avoid falling into the same situation as him.

According to VnExpress/8News Now

Tin mới
Tin khác

Việt Nam

Experience the world's 2 best casinos in Singapore

Posted on by admin

01-10-2020 |  

Casinos in Singapore may be small in quantity, but the quality is quite the opposite. It feels overwhelming, flashy and engaging with the full range of Casino games you'd expect.

Singapore's first casino opened in 2006. This is an industry that is still quite new and early when compared to Las Vegas or Macau, but it can be seen that Singapore is one of the capitals of banks and there are a lot of senior employees who come here regularly, so the stakes are quite high you should be sure to avoid taking risks. As well as traditional casinos, Singapore has been developing a large number of cruise ship casinos that will sail out into international waters to avoid the unfavorable provisions of domestic laws. We would like to introduce the 2 best casinos here for you to get the right choice for you.

There is a note you should keep in mind that there are regulations on costumes. In Singapore, it is necessary to dress politely at the Casino. You must not wear shorts or flip flops.

Marina Bay Sands

This lavish 15,000-square-metre casino features nearly 500 gaming tables, 1,600 slot machines (known to locals as the "Jackpot Machine") as well as more than 30 private slot rooms. In its own words: "Marina Bay Sands offers a wide selection of the new, modern and most popular game machines in the world". The stakes for the games depend on the table but from the minimum of S$25. When you enter, you exchange money right at the table. The casino has a machine, puts money through scanning for real or fake money, and then exchanges it for chips. Hazelnuts are round like chess pieces but are half as large and thin.

trai-nghiem-2-casino-tot-nhat-nhi-the-gioi-o-singapore
Experience the world's 2 best casinos in Singapore

If you win the card, hug the chips out in exchange for cash. If you do not like to take cash, tell the casino to transfer or tell the staff to bring the money to deliver in the hotel room. There is also a money transfer service to the door at no cost.

If the meal is greater than SGD 100,000, the staff must call the manager. The management has finished checking, seeing that it is right to export money immediately. This is to avoid swaying between players and deal handles. Above the casino there are all the CCTV cameras, guests who eat a lot are not out of shifts (two hours), the bookies have also replaced to avoid singing hands with each other to raise money of the casino.

Aegean Paradise Cruises

Aegean Paradise Cruises not only brings you the joy of gambling, but also the appearance of a Chinese buffet restaurant – where you can go as many times as you like and enjoy the cool sea breeze, tranquility away from the busy streets. You can stay here day and night without getting bored. The casino features 40 live tables including poker and black jack and hundreds of slot machines. The minimum bet is much lower than the famous Casinos on the mainland, usually no more than 2 Singapore dollars. It's amazing, it will help you both experience and do other things.

trai-nghiem-2-casino-tot-nhat-nhi-the-gioi-o-singapore-1

The price of an evening train trip is S$25 while a one-night stay in a private cabin costs S$40 on weekends and S$80 on weekends. If you decide to go out to sea for a chance to find luck, you will be picked up from Tanah Merah Ferry Terminal to Nongsapura Ferry Terminal in 45 minutes. Then you will board the Aegean Paradise cruise ship for a memorable experience.

According to Petrotimes

Tin mới
Tin khác