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Red Tape Could Stall Developer Who Wants to Build Casinos in Vietnam

Red Tape Could Stall Developer Who Wants to Build Casinos in Vietnam

Building casinos that are new Vietnam is sold with all sorts of government roadblocks

For whatever reason, in Asian and Russian countries, they like to zone off their casinos. Everything needs to be in a designated ‘economic zone,’ perhaps showing that most things in these countries are not designed to make a lot of cash, at least not if they’re legal.

New Gambling Enterprises on the Runway

Vietnam fits this mold, and legal gambling enterprises are still a fairly brand new concept here, not to mention almost exclusively 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 look at by the Japan Times wants to build a brand new casino project via his Tuan Chau Groupand its US partners in the Van Don Administrative Economic Zone in Quang Ninh province into the northeast region of Vietnam. He also wants 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 here.

If he could possibly get ‘er done, Tuyen would be one of just a handful of developers to crack the bureaucracy grid that has very long kept Vietnam lagging behind its Asian brethren in this arena. A huge sticking point for most casino investors 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 number that is pretty daunting for even well-funded builders in the gaming industry today. More…