Building new casinos in Vietnam is sold with a myriad of government roadblocks
For some reason, in Asian and Russian countries, they like to zone off their casinos. Everything has to be in a designated ‘economic zone,’ perhaps showing that most things in these countries aren’t designed to make a lot of money, at least not if they’re legal.
New Gambling Enterprises on the Runway
Vietnam fits this mold, and legal gambling enterprises remain a concept that is fairly new, and of course almost solely aimed at a foreign market, as locals are mostly barred from casino gambling. Now a high-profile Vietnamese businessman Dao Hong Tuyen, listed as a CEO to watch by the Japan Times wants to construct a new casino project via his Tuan Chau Groupand its US partners in the Van Don Administrative Economic Zone in Quang Ninh province in the northeast region of Vietnam. He also would like to get a gambling house going in Ha Long City on nearby Tuan Chau island, adjacent to a marina that is new will be opening up there.
If he will get ‘er done, Tuyen would be one of just a handful of developers to crack the bureaucracy grid that has very long held Vietnam lagging behind its Asian brethren in this arena. A huge sticking point for casino investors that are most was the somewhat odd dictum by the Vietnamese government that a the least US$4 billion be committed to any projected resort-casino plan; a quantity that is prRead More