Thailand’s Ministry of Finance has been appointed lead agency to consider a House committee study recommending the legalization of casino gaming but will work with 16 other agencies in doing so, local media reports.
According to English-language outlet The Nation, the appointment was ordered by way of an “urgent letter” issued by the Secretariat of the Cabinet on Monday, with the Ministry given 30 days to submit its recommendations to the cabinet.
As reported by IAG, the cabinet approved the casino study a week ago after it was passed by the House late last month.
The 16 other agencies named include the ministries of Tourism and Sports, Social Development and Human Security, Higher Education Science Research and Innovation, Agriculture and Cooperatives, Transport, Interior, Justice, Labour, Culture, Education, Public Health and Industry.
The Office of the Council of State, the National Economic and Social Development Council, the National Office of Buddhism and the Royal Thai Police will also be consulted.
The cabinet’s endorsement of the study last week included a recommendation for joint investments between the government and private operators which could follow a concession model similar to that utilized in Macau.
It also suggested IRs be located close to international airports to ensure international visitors are well catered to.
The study itself recommends imposing a 17% tax on gross gaming revenue – making it one of the lowest tax regimes in the region – with locals to be required to pay an entry levy of an amount yet to be determined. License duration would be set at an initial 20 years and then renewable every five years, while the larger casino complexes would require a minimum investment of US$2.7 billion.
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.