The Thai Ministry of Finance has requested the Council of State to revise the currently deliberated Entertainment Complex Act to increase the maximum area allowed for gambling within each complex from the initially set 5% to 10%.
According to the Bangkok Post, Deputy Finance Minister Julapun Amornvivat revealed that the Ministry has formally made this request, but a final agreement on the casino floor area has not yet been reached.
"We have not yet reached a consensus," Julapun stated during an interview with local media.
Secretary-General of the Council of State, Pakorn Nilprapunt, mentioned that since the cabinet approved the bill earlier this month, the committee has held four meetings with various government agencies to discuss, but some key issues are still under deliberation.
According to Yabo News, the Council of State recently received a 50-day review period to complete the examination of the bill. According to the current draft, the casino area must not exceed 5% of the total built-up area of the complex.
Furthermore, the bill specifies that casinos will be operated by private companies with at least 10 billion Thai Baht (approximately 285 million USD) in paid-up capital, and requires the project to be a joint investment between the government and private enterprises, possibly adopting a concession model similar to that of Macau.
As for the specific number and location of Integrated Resorts (IRs), it has not yet been finalized, but recent reports indicate that Thailand may issue five casino licenses, with two potentially located in Bangkok.
Global major IR operators expressing interest in the Thai market include Las Vegas Sands, Resorts World Sentosa, Galaxy Entertainment Group, Melco Resorts & Entertainment, and MGM Resorts International.
The latter revealed last year that any bids for an Integrated Resort license in Thailand would be made through its Macau subsidiary, MGM China.
