Size of potential Thai casinos still undecided
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Members of the Council of State have not yet agreed on what proportion of complexes casinos would be able to occupy.
Thailand.- The Council of State (CoS) has not yet determined the percentage of the casino component should integrated resorts be legalised. CoS secretary-general Pakorn Nilprapunt said that agencies have had discussions about the draft bill on four occasions recently, but have not reached a conclusion on the matter.
Deputy finance minister Julapun Amornvivat said his ministry had requested the CoS amend the bill to state that approximately 10 per cent of each proposed entertainment complex could be allocated for a casino. However, he said the ratio may not be included in the bill as it could make the law unsuitable for future economic situations.
The draft bill proposes 30-year casino licences with the option for a 10-year renewal. It also stipulates that complexes should be located in designated areas and operated by companies registered in Thailand with a minimum paid-up capital of THB10bn (US$283m). A policy panel led by the prime minister and a regulatory agency would oversee the industry.
Earlier this week, Suriya Jungrungreangkit, Thailand’s minister of transport, said the Bangkok Port could be a viable site for an entertainment complex with a casino due to the size of its land, river views and potential for conversion into a marina for yachts.
Jungrungreangkit, who is also a deputy prime minister, told the Bangkok Post that he received an instruction from his deputy, Manaporn Charoensri, to create a committee to assess the feasibility of developing an entertainment complex in port areas. When asked about other locations such as Laem Chabang or Pattaya, Jungrungreangkit said the ultimate decision rests with a national committee, and that the transport ministry does not have the power to determine a location.
See also: Government gives Council of State 50 days to review draft Thai casino legislation