Four internationally-renowned casino operators, including Wynn Resorts and MGM Resorts, have held or scheduled discussions with the Thai government over the possible development of the country’s first entertainment complexes, with more in line to follow, the country’s Deputy Finance Minister Julapun Amornvivat has revealed.
According to a report by The Bangkok Post, Julapun confirmed this week that the government had held sit-down meetings with both Wynn, led by the President of Wynn Resorts Development Chris Gordon, and MGM, led by President of Global Development Ed Bowers. Two more potential investors were expected to engage in talks soon, he added.
“We are now signalling clearly that we are open to discussions with investors, especially as we move forward with drafting legislation and seek to attract over THB100 billion in investment,” Julapun said, adding that such talks were vital in order to ensure Thailand’s regulations meet global standards.
Only large-scale investors were on the government’s radar, he explained, although any decision on the dispersion of licenses would only be decided through a fair and transparent bidding process.
“Both Wynn and MGM Resorts share the same view as us,” Julapan continued.
“They are interested in investing in Thailand and believe our legal framework is quite solid, especially regarding money laundering and gambling regulation.”
He also stated that the government was in talks with investors in other fields such as sports venues and world-class shows.
Recent discussions with potential bidders by Inside Asian Gaming, part of a deep dive into the progress of the country’s Entertainment Complex Bill and related issues, found that only six internationally-recognized operators can be considered likely to bid.
