On 2 June 2017, the Ministry of Finance issued Circular No. 57 to amend and supplement some of the provisions of its predecessor, Circular No. 11/2014 on the guidelines relating to the business of prize-winning electronic gaming for foreigners.
This Circular came into effect on 17 July 2017.
The key features of Circular No. 57 are summarised as follows:
- Enterprises conducting the business of prize-winning electronic gaming for foreigners may only conduct their business at a single business location licensed by a competent state authority in accordance with the relevant law.
- Enterprises which have been granted Investment Registration Certificates or Enterprise Registration Certificates to conduct prize-winning electronic gaming businesses or which have obtained a written permission from the competent state authority allowing them to do so prior to 15 February 2017 shall be permitted to continue their business with the machines that they have already purchased until such machines are replaced with new ones.
- Circular No. 57 gives enterprises conducting the business of prize-winning electronic gaming for foreigners more freedom to purchase electronic gaming machines through the repeal of several provisions of its predecessor, Circular No. 11/2014. Such repealed provisions relate to: (i) the conditions applicable to the selection of manufacturers, distributors and independent accreditation organisations of prize-winning electronic gaming machines, and (ii) technical conditions applicable to prize-winning electronic gaming machines.
If you have any questions or require any additional information, you may contact Phuc Nguyen, Trang Hoang or the ZICO Law partner you usually deal with.
This alert is for general information only and is not a substitute for legal advice.