Thailand’s Ministry of Finance has asked the Council of State to revise a draft entertainment complex bill currently under is review to increase the maximum space that can be designated for gaming to 10% of each complex’s total floor space.
According to a report by The Bangkok Post, the request was made by the Ministry of Finance, as per comments from Deputy Finance Minister Julapun Amornvivat, although no firm agreement on casino size has been reached.
“We have not yet reached [an agreement on] that level yet,” Julapun told local media.
Council of State secretary-general Pakorn Nilprapunt also stated that the Council has discussed the bill with various government agencies on four occasions since it was approved by the Cabinet earlier this month but was still deliberating over key questions.
As reported by Inside Asian Gaming, the Council of State was recently handed a 50-day deadline to complete its review of the bill, which currently outlines a maximum 5% of floor space to be set aside for a casino.
It also states that such venues are to be operated by private companies with a minimum paid-up capital of at least TBH 10 billion (US$285 million). The bill 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 licenses may be issued including two in Bangkok.
Among the global IR operators to have expressed interest in Thailand are Las Vegas Sands, Genting Singapore, Galaxy Entertainment Group, Melco Resorts and MGM Resorts – the latter revealing last year that any bid it makes for a Thai IR license would be done through its Macau subsidiary, MGM China.
