In a big development for the country’s casino regulation, Thailand’s Finance Minister Deputy Finance Minister Julapun Amornvivat, has revealed the draft law on entertainment venues is set to be introduced before the end of the year.
The Bangkok Post reported that Julapan underlined the significant employment prospects of the plans and integrated resort bill as he ‘hopes as many Thais as possible will be employed in the entertainment complexes, which may require training to ensure they have the necessary skills’.
Furthermore, he also lauded the impact that the sector could have on Thailand when it comes to being attractive to foreign tourists.
Whilst it is yet to be fully cemented where the casinos will be located, the recently appointed Prime Minister of Thailand, Paetongtarn Shinawatra has laid out support for a trio of locations in Bangkok.
As reported by Inside Asian Gaming, this has been backed by JP Morgan, which cited just how lucrative IR venues could be in Bangkok.
Significantly she has also hinted that these newly regulated entertainment venues will be able to grant 10% of their floor space to gaming, as opposed to the previously touted 5%.
If this proposal comes to fruition it would undoubtedly be seen as a major incentive to those operators looking to forge a footprint in Thailand.
It had been predicted that Thailand’s debut casino could open as soon as 2029, as the path to a regulatory framework continues to accelerate.
Furthermore, the lucrative plans already have the backing of the country’s wider governance as it was propped up by studies that revealed just how significant the financial uplift could be for the Thai economy.
The progress in Thailand has inevitably spiked the interest of operators with a strong footprint in the region, as Chinese language Malaysian media outlet Sin Chew Daily recently reported that Genting’s Malaysia-facing brand is eyeing Thailand as a potential venture for the firm.
Bidding processes for the casinos are also set to be completed this year, which will also be required to go through regulatory sign off procedures.
