Thai MPs on Thursday gave overwhelming support to a study recommending Thailand allow casinos in large entertainment complexes.
Multiple media reports said a total of 253 of the 257 lower house of parliament voted in favor. Previous reports had mentioned the possibility of a "bill" on the issue being put to a vote on the day.
Deputy Finance Minister Houlapun Amonvivat was quoted as saying the study would be delivered to the government cabinet for a decision on whether casino legalisation was "fit for the country."
Maybank Investment Bank Bhd, citing information gathered in a note on Friday, said: "Supposing the regulatory framework takes two years to complete and three years to build, the first entertainment centre can only open in 2029."
That could still potentially be before the expected 2030 opening date of MGM Osaka, Japan's first casino resort. In 2018, Japan's parliament enacted a law that would allow the establishment of integrated resorts (IRs) in Japan.
"Genting Singapore Ltd and Naga [Corp Ltd] are the most exposed, but five years is a long time," Maybank analyst Samuel Yin Sao Yang said of Thailand's potential threats of competition
This was first a reference to the promoter of Resorts World Sentosa in Singapore, and secondly, to the Hong Kong-listed promoter of NagaWorld, an exclusive casino operator in Phnom Penh, Cambodia's capital.
"The proposed gaming tax rate is as low as 17% and a Singapore-style social safety measure will be proposed," Maybank said of the business elements of the Thailand plan
The latter was a reference to the casino monopoly in Singapore, Thailand's regional neighbor, which emphasizes social safeguards for its citizens and permanent residents.
Maybank's Mr Yin said of details of Thailand's proposal: "It is expected that licenses will be granted in stages and up to eight entertainment centers will be built."
Previous reports mentioned the possibility that a total of five regions in Thailand could host casino resorts.
BY: 릴게임사이트