Thailand’s cabinet due to review casino legalization study “within two weeks”

In the next two weeks, the Bangkok Post daily reports, members of Thailand’s cabinet will review a study that recommends granting licenses for casinos located within the massive entertainment complexes that the nation is planning.

The deputy finance minister of Thailand, Julapun Amornvivat, is the author of this paper. She is also the head of the special committee of the House of Representatives tasked with evaluating the viability of legalizing casinos in her country.

Last Monday, the chamber of Representatives passed the legislation with a resounding vote of 253 MPs out of 257 in the lower chamber of the National Assembly voting in favor.

Mr. Amornvivat said that the cabinet of the national government will decide whether permitting casinos is in the best interests of the nation. A draft bill will be brought to Parliament for consideration after this review.

The process of completing a legal framework and building the first entertainment center might take two to three years, according to Maybank Investment Bank Bhd, which made reference to information acquired in a note last week. This suggests that the first facility could open in 2029. According to the document, licenses will be granted gradually, and the construction of up to eight entertainment complexes is anticipated.

Additionally, it is intended for the first licenses to last 20 years, with five-year renewals. There are many proposed investment phases, the first of which will need a significant financial outlay of at least THB 100 billion (US$2.7 billion).

Original story by: GGRAsia