Vietnam’s Institute for Regional Sustainable Development reported earlier today that the country’s eight casinos generated a total of VND1.38 trillion ($61.3 million) in gambling revenue last year. In addition, the venues, which are intended only for foreign gambling customers, contributed a total of VND339 billion in gaming taxes.
The figures were released at a special conference that is currently taking place in Hanoi. Aside from the eight casinos, there are also 64 lottery companies operating within Vietnam’s borders as well as two sports betting properties.
According to the figures reported by the Institute for Regional Sustainable Development, lottery operations generated total revenue of VND64 trillion ($2.9 billion) and contributed VND20 trillion in tax revenue to the country in 2014.
The institute also commented on illegal gambling within Vietnam’s borders. According to industry experts, gambling operators that conduct illegal activities in the country have been piling more and more profits. The Ministry of Public Security has previously revealed that there are about 200 illegal so de bookies in Vietnam.
Generally speaking, so de is a numbers game resembling the national lottery. Unlike the lottery, it is absolutely banned in the country. However, according to the latest reports, at least VND500 million are daily earned by operators offering the game in a total of 18 cities across Vietnam.
Residents of the country are banned from gambling at its eight casinos. This is why people who would like to try their luck and possibly win a big prize need to travel to neighboring countries in order to be able to do so. And Cambodia, which announced earlier today that its casino industry annually generates $2 billion in revenue, is one of the most preferred gambling destinations among Vietnamese.
A recent survey carried out in the Tay Ninh Province showed that more than 200 people daily crossed the country’s border with Cambodia for gambling purposes. During the weekends, the number increased to 700-800 people per day. According to the study, Vietnam citizens spent more than $250 million in a single Cambodian casino over the span of one fiscal year.
Similarly to Vietnam, only foreign gambling customers are allowed to play at Cambodian casinos. This is why Cambodians tend to travel to Vietnam in order to gamble at local casinos.
