Thailand considers regulatory framework for casino resorts

Thailand considers regulatory framework for casino resorts

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Thailand considers regulatory framework for casino resorts

Thailand is considering establishing casino resorts, with an emphasis on legal and investment details, according to the country’s deputy finance minister, Julapun Amornvivat.

He stated that if casino resorts are set up in Thailand, the gambling sections should not be over five percent of the total resort area. The Bangkok Post reported on this specification. Julapun further stated that the ratio of gambling to non-gambling places within these resorts, referred to as “entertainment centres” by Thai parliamentarians, would be regulated by different government departments. 

However, the report did not specify whether this involves direct public sector investment in the projects or participation by certain government departments in designing and implementing the strategy. In other markets, such complexes containing hotels, entertainment arenas, and meeting spaces are referred to as “integrated resorts” (IRs).

On the ninth of April, Thailand’s cabinet approved a National Assembly committee report investigating the practicality of such resorts and asked the Ministry of Finance to explore the policy’s implementation within a period of thirty days.  According to the committee study, each suggested site would require a minimum expense of THB100 billion (about US$2.75 billion).

In a media update on Monday, it was said that the finance ministry had requested a two-week extension to the study period. The minister of finance reaffirmed that his department would work with sixteen other government agencies to discuss the various aspects of the casino resort initiative, such as legislation governing these complexes, choosing locations for them, weighing the benefits and drawbacks of the projects, and creating a fund to offset any potential negative effects.

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