I. INDUSTRY ANALYSIS:
1. Market dynamics and patterns:
Vietnam is located in South East Asia with the S shape bordering Cambodia, China, and Laos
with water borders with the Gulf of Thailand, Gulf of Tonkin, and South China.
Vietnam intrigues worldwide casino organizations because it has a long-term economic
development strategy and a 90 million people supporting the booming gaming industry, which
is now mostly seen at border casinos and domestic underground games. Along with the rest of
the country, the north registered 15 gambling establishments, 6 in the middle, and 24 in the
south, for a total of 45. With a tropical climate, a pair of UNESCO and Natural World Heritage
sites, more than 3,400 kilometers of coastline, much of its sea shore lined, Vietnam has
incredible potential as a tourist destination that gambling organization can enhance. The
Chinese remain the biggest share of visitors representing 22% followed by Koreans and
Japanese. (Muhammad, 2017).
2. Customers and clients:
The casinos rely heavily on traveling from neighboring Asian countries, especially Chinese
and Korean players. As a country with a 'walking' border with China, its gaming field can be
huge (Kihara, Nakano, & Onishi, 2020).
Communist Party managed Vietnam already has eight casinos for foreign passport holders
only. To expand on the scale necessary to compete internationally, investors want a local
customer base. Vietnam wants to encourage investment by allowing limited local play. The
new decree, reportedly nearly a decade in making, permits citizens to enter casinos if they can
show monthly income exceeding 10 million VND (US $449) and are charge a 1 million VND
entry tax (Muhammad, 2017). Players must be at least 21 years of age, have the permission
from their family to do so and not have a criminal record, with the minimum bet set at 1000
VND and a maximum of 1 million per day.
3. Products and competitions:
The largest hotel-casino in Vietnam as of
2017 was the Grand
- Ho Tram strip. It is controlled by an
American and opened in 2013. The US $1