Nowadays, the casino business model attracts many investors because of its high profitability. With a promising future, a lot of people have the desire to establish a casino business to make money. However, not everyone knows about the regulations regarding casino as well as the business lines. So, in this article, LSX legal firm will answer the question: “Casino business belongs to which industry in Vietnam?”
Legal ground
- Decree 03/2017/ND-CP
Casino business in the line of conditional business investment
The Law on Enterprise 2020 allows enterprises to freely conduct business in industries that not prohibited by law. However, for conditional business lines, before conducting business activities, enterprises must ensure that they fully meet the conditions prescribed by law. Casino business belongs to the conditional business lines, and Decree 03/2017/ND-CP regulates the casino business as follows:
The “casino business” is a conditional business that must be licensed by a competent authority to provide prize-winning games on gaming machines and/or gaming tables to serve the entertaining of the entities specified in Article 11 of this Decree.
This conditional business subject to the strict control by competent authorities to assure that such business complies with this Decree and relevant law provisions. Only enterprises having the Certificate of eligibility for casino business issued according to this Decree and enterprises specified in clause 1 Article 62 of this Decree can run a casino business.
Casino business shall be combined with the main business of the enterprise to enhance the development of tourism and commerce, vary the forms of entertainment, improve the spiritual life and attract tourists; ensure the security, national defense, social order and safety, social ethics and community health.
The organization of and participation in prize-winning games must ensure the transparency, objectiveness, and honesty, ensuring the lawful rights and interests of relevant parties.
Conditions for establishing a casino business
Location of the casino business
A casino operating enterprise may only run a casino business at a sole facility licensed by a competent authority according to laws.
The casino shall be located separately from other business areas of the enterprise and:
- Firstly, have a separate entrance and exit doors;
- Secondly, have electronic equipment and cameras for constant surveillance and control of all the activities in the casino (24/7), where the following essential positions under surveillance: entrance and exit doors, locations of gaming machines, gaming tables, cashier area, areas for counting and storing cash and tokens. Records from electronic equipment and camera system at essential positions shall be retained for at least 06 months from the time of recording. In case of necessity, the retention duration may be extended at the request of the competent authority.
- Thirdly, have security staff, sufficient equipment, and routes for security and fire safety according to relevant law provisions. Requirements for and tasks of security officers shall conform with Decree No. 06/2013/ND-CP dated January 09, 2013, by the Government and amending and replacing documents (if any).
- Fourthly, post the rules for entering or leaving the casino in Vietnamese, English, and other languages (if any) at a noticeable place at the entryway of the casino.
Requirements for issuance of Certificates of registration
- Requirements for the issuance of the Certificate of registration of investment in a project on a casino-included entertainment complex:
- The implementation of the project of the casino approved by a competent authority;
- The project contains at least hotels, services, tourism, commercial and entertaining areas, and conference centers;
- Having at least USD 02 billion in terms of investment capital;
- Having plans and measures that feasible and suitable for Vietnam’s conditions for controlling and eliminating the negative effects of the casino business.
- The composition of applications and procedures for the Certificate of registration of investment in the project on a casino-included entertainment complex shall conform with laws on investment.
Operation time of casino business
The permitted operation time of an enterprise: all days in a year, excluding days on which the business operation suspended under decisions of competent authorities. The enterprise shall post publicly at the casino about its operation time.
The enterprise may suspend its business whenever necessary. At least 15 days before the suspension date, the enterprise shall post a notification publicly at the casino and send it to the Ministry of Finance, People’s Committees of provinces, Services of Finance, investment registry office, and the supervisory tax authority for surveillance and management. The notification must specify the time of suspension of operation, the causes of the suspension, and the planned time of operation resumption. In case of having a change in the time of resumption of operation, the enterprises shall post a notification publicly at the casino and send it to the abovementioned authorities.
If the suspension is requested by a regulatory authority, the enterprise shall notify the gamblers of the time of suspension immediately after the request for the suspension is received.
Types and categories of prize-winning games:
- A casino-operating enterprise shall provide only 02 types of prize-winning games through a gaming machine or a gaming table.
- The enterprise may decide the types and/or categories of the prize-winning game that it provides which must not exceed the number of gaming machines and/or gaming tables stated in the Certificate of eligibility for casino business or the Certificate of investment registration, applicable to enterprises specified in clause 1 Article 62 of Decree 03/2017/ND-CP.
Game rules of casino business
According to Article 10 of Decree 03/2017/ND-CP:
Any prize-winning game provided shall have game rules in accordance with the playing method, payout, and the designs of the gaming machines and/or gaming tables. A set of gaming rules must conform with laws and include the following contents:
- Name of the game;
- Description and interpretation of terms of the game;
- Images and instructions for use of the gaming machines and/or gaming tables;
- Playing method;
- Payout;
- Way of determining a win and principle and method of payment of prizes to the winners;
- Handling of unexpected problems arising during the playing of games;
- Handling of disputes between the casino-operating enterprise and gamblers;
- Other contents according to the enterprise’s management requirement.
At least 15 days before providing a game, the game rules shall be posted publicly at the casino and retained to be presented to regulatory bodies in charge of inspection according to this Decree.
Legal service of LSX Legal Firm
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- Legal advice related to new regulations;
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Related questions
1. Annual financial statements of casino-operating enterprises must be annually audited.
2. At the end of a fiscal year, casino-operating enterprises shall disclose their financial statements according to law.
If they have a foreign passport issued by a foreign competent authority, a valid passport, legally enter Vietnam, have the full civil capacity, and voluntarily abide by the rules of the game.
Firstly, having licensed by a competent authority to establish and operate a tourist accommodation establishment in accordance with the Law on Investment and the Law on Enterprises.
Secondly, enterprises whose tourist accommodation establishments rated from 5 stars or high class or higher ranked by competent state management agencies in accordance with the provisions of the Law on Tourism and guiding documents.
Thirdly, having an area to arrange a business point that fully meets the conditions prescribed by law.
Fourthly, satisfy security and order conditions for conditional business lines.
Having a manager or executive with good ethics, having at least a university degree or higher, at least 03 years of experience in managing prize-winning video game business, and not belonging to the cases that prohibited from establishing and managing enterprises in accordance with the law.
Having sufficient financial capacity, in the fiscal year immediately preceding the year the enterprise submits the application for the Certificate of business eligibility, the business enterprise is profitable and has no accumulated losses.
Lastly, having an effective business plan for prize-winning electronic games, and ensuring the maintenance of security, social order and safety in accordance with the law.
Contact LSX
Finally, hope this article is useful for you to answer the question about “Casino business belongs to which industry in Vietnam?”. If you need any further information, please contact LSX Law firm: +84846175333 or Email: [email protected]
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