Thailand’s cabinet will continue its review of the Entertainment Complex Bill today, but not all government departments are in support of the proposal to legalize casino gaming.
According to The Bangkok Post, Thailand’s Council of State will oppose the bill on the basis that it breaches government policy and does not sufficiently address the issue illegal gambling. Specifically, the Council believes the Entertainment Complex Bill is too focused on the development of casino resorts which it says is inconsistent with the government’s broader plans to promote tourism to the Southeast Asian nation.
The Bangkok Post cited an unnamed source for the concerns being outlaid, which it says follows a circular being issued by the Secretariat of the Cabinet to various agencies last month seeking stakeholder input to aid the cabinet’s decision-making process.
The Council’s concerns, it adds, include the need to include in the bill a clear definition of entertainment complexes and whether they must include hotels, restaurants and other related businesses. It also notes that many of these businesses are already regulated by existing laws.
Moreso, the Council is said to question how the bill will address the issue of illegal gambling and whether a better option would be to amend the existing Gambling Act 1935 rather than to introduce an entirely new law.
The draft bill on entertainment complexes outlines plans to develop large-scale entertainment venues to be operated by private companies with a minimum paid-up capital of at least TBH 10 billion (US$285 million).
It has been recommended that the gaming areas in legalized integrated resorts should not exceed 5% of the total project area, with the remainder to be utilized for complementary hotel and entertainment offerings. The bill also calls for the projects to be joint investments between the government and private operators, which could follow a concession model similar to that utilized in Macau.
While the exact number and locations of such IRs has yet to be determined, the most recent reports suggest five license may be issued including two in Bangkok.
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 isn’t slated for completion until at least 2030.
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