At the inaugural Thai Entertainment Complex Summit, Chulapong Yukate, Thai list MP for the People’s Party, announced a second alternative bill for Thailand’s casino liberalization, focusing on “Entertainment Complexes”.
Yukate stated that on December 12 he will submit this bill to the Thai National Assembly for consideration, with readings and responses scheduled, reports Macau Business. A final decision is expected by April 12, 2025. If approved, the bill will need to pass a 180-day waiting period before being published in the government gazette.
While there are no specific numbers of licenses of a potential number of sites in the previous bill pushed forward earlier this year— even though five have been rumored for Bangkok, Phuket, Chiang Mai, and somewhere in the Eastern Economic Corridor if not Pattaya itself — the key for Yukate is the business structure.
In defining an effective Entertainment Complex, Yukate said one should think of a Thai shopping mall, “with five to 10 percent of its area, about 2,000 acres, as an area for a casino.”
Chulapong Yukate
Yukate stated that the malls could be owned by anyone, however, if the owner has no experience managing a casino, then it should be subcontracted out to a casino management entity.
He also noted that Thailand’s telecom management example provides a legal context for foreign investors to have greater investments beyond the usual local 51% to foreign 49% structure, without limitations of a percentage of shares for foreign owners.
His bill proposes a model where the EC has shopping, hotels, restaurants and bars, possibly a sports stadium, and casino. In the eight chapters of law lined up in the bill, the sitting Prime Minister must chair the EC Policy Committee with 15 others.
He further noted that the current law for illegal gambling would not change, but those who violate casino law would be fined Baht 500,000 ($14,556), and a fund should be established to help those with problem gambling habits, as reported by Macau Business.
Niall Murray
Organized by Rosalind Wade, CEO of Winna Media, the two-day conference began with a speech by conference Chairperson Niall Murray, Founder and Chairman of Murray International Group.
Murray, a veteran who was part of laying down the early foundations of the modern gaming ecosystem in Macau with the Sands Hotel & Casino and MGM China, commented that he is “confident that the [gaming] market will explode in Thailand and become second to Macau in a few short years.”
Original article: https://www.yogonet.com/international/news/2024/12/04/87478-thailand-mp-chulapong-yukate-to-submit-second-alternative-bill-for-casino-liberalization
