The Thai cabinet has endorsed a special House committee report recommending the legalization of integrated resorts with casinos, and given the Ministry of Finance 30 days to conduct an additional feasibility study.
The Bangkok Post reported Wednesday on this latest step towards casino legislation, coming less than two weeks after the House of Representatives provided its own near unanimous approval of the study.
However, government spokeswoman Kenika Ounjit stated that such a move towards legalized casinos would still require public hearings before any final decision on proceeding was made.
Nevertheless, Ounjit noted that integrated casino resorts represent a key element of the so-called “fun economy” being pursued by the government, which incorporates tourism, sports, entertainment venues and MICE businesses, according to The Bangkok Post.
The cabinet’s endorsement this week includes a recommendation for joint investments between the government and private operators which could follow a concession model similar to that utilized in Macau.
It has also suggested any IRs be located close to international airports to ensure international visitors are well catered to.
A new casino law would need to be passed while a specific government organization to oversee responsible gambling has been proposed.
A recent note from Maybank claimed that Thailand could open its first IRs as early as 2029, which would result in the Southeast Asian nation realizing legal casino gaming ahead of Japan where MGM Resorts International’s US$10 billion IR development in Osaka isn’t slated for completion until at least 2030.
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