An upcoming Thailand parliament meeting in July could open up the casino resort market in the country.
Casino giants are circling Thailand as the country takes another step towards making entertainment complexes legal. Deputy Finance Minister Julapun Amornvivat said between five and seven global firms want to break into the Thai market, with Wynn Resorts and MGM Resorts already in talks with the government.
Those big names are known for building not just casino resorts but also entertainment spaces that mix in theme parks, concert venues, and retail locations into their locations, in a similar approach to the new MGM complex being built in Osaka, Japan. A lawmaking session in July will discuss the casino-entertainment bill, which would open the door for such resorts to be built.
Those backing the bill speak to the impact on tourism in Thailand, with regulated gambling creating more income. The country attracts 40 million visitors from around the world each year, with Bangkok alone having a high enough population and level of tourism to support several resorts. Other cities throughout Thailand are also up for discussion.
The government is considering approving up to five licenses but those details are still up for debate. Each development would require significant capital, with estimated investments per site sitting between around $6 and 9 billion.
Gambling News reports that Amornvivat stipulated that Thailand would introduce strict rules, strong security, mandatory visitor sign-ups, and regulatory oversight on casino floors. There is also already talk about support for those affected by gambling-related harm.
It’s not all support in Thailand
Some critics are concerned by how quickly the bill is progressing, with worries that other possible areas of harm have not been considered. Public perception of a bill being rushed through is also a concern for some lawmakers.
With a lot of details in the bill yet to be finalized, the meeting in July will be an important step towards gaining support among more lawmakers, as well as addressing potential public concerns.
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