Global true estate companies company Jones Lang LaSalle (JLL) has reported that international casino operators were showing renewed curiosity in the Vietnamese gaming business following the government issued a decree permitting locals to gamble in selected casinos in the country.
JLL has reviewed the newest developments in its July report covering Vietnam's hotel and tourism market.
The true estate firm mentioned that that the decree had increased interest in gaming solutions across the nation.
In a statement JLL stated,
International casino developers have been circling Vietnam offered the current lifting of a ban on local gambling. A lot of hotels across the nation have chosen to add electronic gaming to boost revenues.
The a lot awaited gaming decree from the government came into impact on March 15. Under the new terms, Vietnamese citizens who are more than 21 years of age and have month-to-month earnings of at least VND10 million (US$43) would be permitted to enter casinos for the objective of gambling. Nevertheless no casino has so far been formally approved to do so.
There are a number of casino projects below growth as properly are at present operational in the country including in popular places of Da Nang and Hoi An.The southern resort island of Phu Quo is 1 of the destinations very likely to advantage from the growth of the casino sector. The JLL report noted that the Ho Tram Gran in the south was continuing with development of the 2nd phase of a 559-area hotel facility. The second phase is expected to be open by 2018. The operator has reportedly announced a third phase as well.
Jones Lang LaSalle pointed out that vast majority of the casino tasks in Vietnam have come below fire due to fears of elevated social difficulties like problem gambling. The business stated that if correctly planned and executed, these tasks are likely to deliver positive returns, leading to continued curiosity from prime global investors.
Adam Bury, Senior Vice President, Investment Sales, Asia Pacific, Hotels & Hospitality Group at JLK highlighted that Vietnam was no longer seen as a location to be visited when. He stated that with an fascinating meals scene, new golfing services and casinos, repeat visitations were on the rise.
The country noticed a record 10 million global visitor arrivals in 2016 and the aim is to increase it to 20 million visitors by 2020. Arrivals from China in particular saw a sharp development in 2016, jumping by practically 50 percent. The other impressive growth was seen in Russian arrivals which grew by 60 %. site