Vietnam’s Gaming Market Nears Saturation: Tim Nguyen

The Vietnamese gaming market is nearing saturation, according to Tim Nguyen, a 20-year casino industry veteran and managing director of Fortuna Investments.

In an interview with AGB, Nguyen shared insights on Vietnam’s gaming market, noting that while investment opportunities remain, the market is no longer a guaranteed success.

Vietnam lacks a unified gaming law, regulatory agency, or licensing structure. Apart from integrated resorts like Hoiana Resort and Corona Resort & Casino Phu Quoc, the country has electronic gaming clubs limited to foreign passport holders, mostly in 4- and 5-star hotels in tourist areas. Currently, Corona Resort is the only casino open to Vietnamese citizens who meet entry requirements.

Nguyen compares the current situation of VIP Gaming Clubs in Vietnam to the Cambodian slot club market of the early 2000s, characterized by an oversupply of machines and locations. While there were once enough players to sustain profitability, mainly Koreans and other Asian nationalities, the market now seems saturated. Nguyen warns that clubs without strong locations or marketing will struggle.

Despite this, Vietnam’s tourism sector has seen a strong start in 2024, with international visitors increasing by 58.4 percent year-on-year, reaching over 8.8 million in the first six months, including nearly 2 million from China. Vietnam aims for 17 to 18 million international visitors in 2024, with tourism receipts expected to hit VND840 trillion ($34.7 billion).

Nguyen has invested in two VIP gaming clubs in northern Vietnam, citing stronger connections there. He highlights opportunities for investors to revive previously profitable clubs that closed during the pandemic. Additionally, Nguyen sees potential for new gaming machine suppliers to challenge market leaders like Aristocrat and Interblock. He represents Spintec in Vietnam through Platinum Entertainment, noting growing interest in Spintec’s cost-effective products.

Nguyen believes Spintec’s affordable yet reliable electronic gaming solutions offer a competitive edge, appealing to budget-sensitive operators in the current economic climate.

Original Story by: AGB