Revenue from casino contributes about VND9 000 billion to the State budget


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Revenue from casino contributes about VND9,000 billion to the State budget
Minister of Finance Ho Duc Phoc answers questions from National Assembly delegates.

Lottery revenue is large revenues for local budgets

At the meeting, National Assembly delegate Dieu Huynh Sang (Binh Phuoc) said that curently 64 enterprises have operated lottery business, which is a conditional business. The revenue from lottery business in 2023 increased by 11% year-on-year to VND 153,037 billion. This is the highest revenue, in which traditional lottery revenue accounts for nearly 96% of total revenue.

The delegate proposed the Minister of Finance to evaluate the increasing trend as well as the impacts on the socio-economic situation, especially for low-income people and the poor in the current global economic recession. At the same time, clarify the increased effectiveness of using lottery revenue in implementing the development investment goals of localities.

Delegate Dieu Huynh Sang, Minister of Finance Ho Duc Phoc said that currently there are 64 lottery companies in the country, including one company under the Ministry of Finance as Vietlott, and 64 lottery companies under the People’s Committees of 63 provinces.

Revenue from casino contributes about VND9,000 billion to the State budget
The overview of the question and answer session.

The Minister said that over the past time, the lottery business has developed and the revenue from the operation is a large revenue for health, education, new rural areas and infrastructure projects of the provinces. From 2011 to present, the revenue from Vietlott lottery business has contributed positive results for the State budget and created jobs for about 500,000 workers.

In order for the lottery business to grow and develop sustainably, in addition to the digital transformation, the lottery sales by lottery agents should be remained to diversify products and create jobs for workers, the poor, and the disadvantaged.

Regarding ticket sales through lottery agents, the Minister said that currently, there are 64 lottery companies in the country, all of which operate effectivly and make profit. However, some obstacles have occured at lottery companies, especially at southern lottery agencies, when these companies do not receive money back from agents who buy unsold lottery tickets. “The Ministry will continue to tighten management of this issue, strengthen urging and guidance. We recommend that local authorities promote cotrol and immediately handle violations,” the Minister said.

The proportion of Vietnamese residents playing casinos gradually decreases

At the questioning session, delegate Nguyen Duy Minh (Da Nang) asked the Minister about the number of casino operators in the country, and the current business situation of these operators, the contribution of casino operators to the local economy, especially in attracting tourists to stay and consume at localities.

The delegate also proposed the Minister to evaluate the results of the pilot allowing Vietnamese residents to play casino games in recent times.

Answering delegate Nguyen Duy Minh’s question, Minister Ho Duc Phoc said that currently, nine casinos have operated in the country. There are three large casinos in Phu Quoc, Vung Tau, Nam Hoi An, and six small casinos in Hai Phong, Quang Ninh, Lao Cai… According to the Government’s decision approving the investment policy, there are two casinos have been built in Khanh Hoa and Thua Thien Hue, and one casino in Van Don (Quang Ninh) is applied for investment approval.

The Minister said that from 2017 to 2023, casinos contributed about VND 9,000 billion to the State budget, and created jobs for nearly 10,000 workers. According to regulations, the country only allows Vietnamese residents to play casinos in Phu Quoc. However, the proportion of Vietnamese residents playing in the casio accounts for 69% in the firt years of permiting. However, the number of the players has gradually decreased. In 2023, this rate was only 39%.

According to a report from the Ministry of Finance sending to the Standing Committee of the National Assembly, in 2023, revenue from lottery business activities increased by 11% to VND153,037 billion, compared to 2022 (of which about 50% is used to pay rewards). The revenue contributed to the State budget grew 10.3% to VND45,016 billion year-on-year, of which lottery accounts for 3.4%.

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