Vietnam is finalizing legislation that will regulate wagering on international football matches as well as horse and dog racing with a draft decree now scheduled to be introduced to the government by August 15.
According to a report from the VietNamNet news portal, Thursday saw Deputy Prime Minister Vuong Dinh Hue ask the Ministry of Finance to incorporate recommendations previously made by the Standing Committee of the country’s National Assembly into the new rules by next week’s deadline.
Under these regulations, betting operators will be required to apply for five-year licenses to offer wagering on races and non-domestic football games and will not be permitted to market their services using pictures or results from such events. Authorization is to be granted only to companies that qualify under the nation’s Law of Investment and Law of Bidding with firms required to have at least five years of experience in order to “distribute gambling tickets” via telephone and “other means of telecommunication”.
Moreover, betting shops will be obliged to be located at least 1,640 feet from schools or public parks at which children congregate with their hours of operation to be set by the government.
In addition, the draft regulations state that “there are no regulations for Internet ticket distribution” with the language additionally suggesting that the pooling of liquidity with operators located in other nations is not on the cards.
Finally, Hue asked that the proposed legislation clearly define the responsibilities of the Ministry Of Culture, Sports And Tourism, especially in the area of international football gambling management, while the recommendations contained no new information on suggested plans that would allow Vietnamese casinos to admit local players.
VietNamNet also reported that the Crowne International Club in the city of Da Nang has asked the government for permission to expand its portfolio of gaming tables. The venue opened in 2010 with only eight tables and got into trouble last year after regulators discovered that the property had secretly expanded this number to 15.
The property now wants to be able to offer up to 100 gaming tables, which it declared would see the state benefit to the tune of $136 million a year in addition tax revenues, while officials proclaimed that the venue’s request would only be considered after a draft decree on gambling is finalized.