The Thai government is delaying a parliamentary debate on a bill to legalize gaming in casinos in the country, Bloomberg reported.
According to the report, the delay occurred after the Thai opposition gained momentum in its bid to block the proposal.
The Thai government previously announced plans to legalize gaming activities to attract more foreign investment and bolster tourism.
Prime Minister Paetongtarn Shinawatra was quoted as saying yesterday that the parliamentary debate on the bill, initially scheduled for today, has been postponed due to the announcement of the US decision to impose a 36% tariff on Thai products and the need to address the aftermath of the earthquake that affected several regions of Thailand and resulted in many casualties in Bangkok.
The delay in the bill debate puts local interested parties on “standby,” as at least three of the six local gaming operators (Galaxy, MGM, and Melco) have already expressed their interest in bidding for a potential operation in Thailand in the future.
The bill, endorsed by the cabinet last month, proposes that, similarly to what happens in Macau, casinos should be located within integrated entertainment complexes (Integrated Resorts). Their floor area is also capped at a maximum of 10% of the total area of the resorts.
Stringent entry requirements also apply for all Thai citizens, including proof of possessing a minimum of THB50 million (MOP11.5 million) in bank deposits.
Bloomberg noted that Paetongtarn’s administration had been pushing for the bill’s passing this year. At the same time, the opposition, composed of numerous civil and religious groups, heavily criticized it for primarily benefiting only big businesses and foreign companies while potentially contributing to more social issues related to gambling addiction.
No Comments