Thailand: Two more weeks to define Casino Project

According to a report by The Bangkok Post, Thailand's Ministry of Finance, citing Deputy Finance Minister Julapun Amornvivat, has asked for an extra two weeks to conclude a feasibility study on legalizing casino gaming. This extension is attributed to the comprehensive nature of the proposal.

The outlet was quoting comments from Deputy Finance Minister Julapun Amornvivat, who said the request was due to the extensive nature of the proposal.

As reported by Inside Asian Gaming, the Thai cabinet last month endorsed a special House committee report recommending the legalization of integrated resorts with casinos, but asked the Ministry of Finance to conduct its own feasibility study within 30 days.

The Ministry has also been appointed  lead agency to lead 16 other agenciesin the feasibility study, however Amornvivat told The Bangkok Post that such collaboration is yet to begin. Among the core issues to be discussed are the need for new legislation, locations for integrated casino resorts, assessing the pros and cons of casino developments and establishing a body to mitigate potential gambling harm.

Amornvivat confirmed that the gaming areas in legal integrated resorts will not be permitted to exceed 5% of the total project area, with the remainder to be utilized for complementary hotel and entertainment offerings.

The cabinet’s endorsement last month included a recommendation for Thailand’s integrated resorts to be joint investments between the government and private operators, which could follow a concession model similar to that utilized in Macau. It also suggested IRs be located close to international airports to ensure international visitors are well catered to.

A recent note from Maybank claimed that Thailand could open its first IRs as early as 2029, which would result in the Southeast Asian nation realizing legal casino gaming ahead of Japan where MGM Resorts International’s US$10 billion IR development in Osaka