Potential Vietnam Gambling Market Has Eyes and Ears of Casino Companies

Potential Vietnam Gambling Market Has Eyes and Ears of Casino Companies

However, the economy in Vietnam is growing. Predominantly an agriculture civilization, in recent decades Vietnam has successfully ventured into high-tech industries like information technology, and made great advancements in manufacturing.

It s also now the third-largest oil producer in Southeast Asia.

Asia is the hottest gambling continent in the world. Macau has become the world s richest gambling hub, and Japan is set to end its prohibition on commercial casinos and issue two integrated resort licenses. Las Vegas Sands and MGM Resorts are the frontrunners for the coveted projects, both pledging as much as $10 billion each.

Regardless of which companies win in Japan, multiple interested conglomerates will undoubtedly be left out. In addition to Sands and MGM, Wynn, Caesars, Galaxy Entertainment, Melco, and Hard Rock have all expressed interest.

For those that aren t initially chosen in Japan, Vietnam might present a formidable second option. At $2 billion, total investment would be roughly a quarter of what will likely be required in Land of the Rising Sun.

Of course, Japan is a much richer country, per capital income totaling $43,000 compared to just $7,000 in Vietnam. But Japan s governing body is expected to place a substantial casino entrance fee on its citizens, rumored to be as much as $100 per visit.