Vietnam approves Hanoi horse racing track
HANOI - Communist-ruled Vietnam has approved
Hanoi's first horse racing track, an official said on Monday.
The $57 million project is scheduled to begin operations in about three
years with horses bred in France, said the official from the local partner,
state-owned Hanoi Sport Production, Service and Tourism Company.
``The licence was delayed for a while because the government needed to
consider giving permission for a betting service,'' he said.
``It's obvious that without betting it's hard for the joint venture to be
Gambling in Vietnam, which is classified as a social evil, is mostly illegal.
Aside from state-run lotteries, the only legal gambling is at a run-down
horse track in Ho Chi Minh City, a relic from Vietnam War days.
The main investor in the 50-year Hanoi project -- which envisages a state
of the art stadium and network of bookies offering live result services on
race days -- is France's Trotting Promotion S.A., which will hold a 70
Construction is planned to begin in mid-2000, the official, who declined to
be identified, said.
A regular bulletin will be published to brief local people on the background
of each horse, he added.
Reuters - February 01, 1999.