BUSINESS

Vietnam considering sports betting; Macau ferry contract down to three firms

TAGs: Asia, Macau, Vietnam

vietnam flagLawmakers in Vietnam could be the next country to jump aboard Asia’s burgeoning gambling tuk-tuk. Government ministers want to regulate betting on soccer and sport to “limit the social damage caused by underground gambling syndicates” that currently run most of the country’s sports betting. By choosing to regulate it should mean the flow of money to neighboring Cambodia’s casinos will be limited and instead stay in the nation.

Finance minister Vuong Dinh Hue visited Singapore over the weekend to meet with executives from the Tote Board and Singapore Pools, coming back with a what we can only assume was a broad smile across his face. He stated they could learn from Singapore’s example when it comes to setting up the operation. Vietnam has already been targeted by Las Vegas Sands as their next port of call in Asia and time is ripe for the country to become involved. Vietnam, thanks to the abundance of tourists, would see big gains from both the sports betting and casino business industries. They’ll just have to hope they aren’t too late to the party.

Macau’s Maritime Administration (CP) will pore over three applications before deciding who will run ferry services from Pac On ferry pier. The deadline was on Friday and Macau Daily Times reported they’ll decide “as soon as possible” to get services underway quickly. It won’t be a rash decision though.

“Factors of consideration include applicants’ ability to provide efficient, safe and comfortable ferry services to the public,” CP wrote. “Applicants’ experience in ferry operation is another important factor for deliberation.”

They’ve yet to disclose where the new routes will go to and it’s thought they’ll be to Hong Kong and Mainland Chinese cities.

Comments

views and opinions expressed are those of the author and do not necessarily reflect those of CalvinAyre.com