Members of Thailand’s cabinet are due to review “within two weeks” a study recommending casinos be permitted in large entertainment complexes proposed for that nation. That is according to the country’s deputy finance minister, Julapun Amornvivat, in comments carried on Wednesday by the Bangkok Post newspaper.
Mr Amornvivat is also chairman of the special committee of the House of Representatives that was tasked with completing the studing on the feasibility of legalising casinos in Thailand.
The plan won approval in the House of Representatives last week, with a total of 253 out of 257 lawmakers present in the National Assembly’s lower chamber voting in favour.
The national government’s cabinet will decide on whether legalising casinos is “suitable for the nation,” according to Mr Amornvivat. After that, a draft bill is to be submitted for parliamentary review.
Maybank Investment Bank Bhd said in a note last week, citing information it had gathered: “Assuming two years to finalise a regulatory framework and three years to construct, the first entertainment centre may only open in 2029.”
The institution stated: “It is envisioned that licences will be awarded in phases, and up to eight entertainment centres will be built.”
It added: “The initial licence duration is 20 years but renewable every five years. Four different investment sizes are envisioned but the first phase of licences will be for the largest, commanding minimum capex of THB100 billion (US$2.7 billion).”
