An first set of regulations for integrated resort casinos has been disclosed by Thailand.

 The government of Thailand has published draft guidelines for IRs for public feedback, which means that casinos are becoming a reality in the country.
 This resort casino is integrated into Thailand.
 Draft regulations that outline the operations that will be carried out by integrated resorts in Thailand have been published in order to allow for a period of public comment that will last until August 18th.  For quite some time, the nation has been debating whether or not to legalise casinos. In March of this year, members of the house of representatives approved a draft of the Entertainment Complex Bill.

 The first regulations stipulated that licenses would be valid for thirty years.  Assessments of operators shall be carried out once every five years, and the duration of each renewal cycle will not exceed ten years.

 A policy committee and executive committee will be responsible for overseeing Thailand's casinos. The prime minister, Srettha Thavisin, will serve as the chairperson of both committees. These committees will be responsible for aiding the formulation of regulation and smoothing the process towards launch.  A new government agency called the Comprehensive Entertainment Commission will be in charge of day-to-day regulation for the entertainment industry.

 The proposal to establish casinos in Thailand would first be supervised by a government committee that reports to the prime minister.  This will comprise the minister of finance, the minister of tourism and sports, the minister of social development and human security, the minister of trade, the minister of interior, the minister of justice and the commissioner-general of the Royal Thai Police.

 Which fees are required to be paid by operators for casinos in Thailand?
 In addition to the 100,000 baht application cost, operators are need to pay an initial 5 billion baht (£110.9 million, €129.4 million, or $141.9 million) in order to obtain their first licence.

 Annual costs are going to be set at one billion baht, while operators who want to renew their licenses will be need to pay five billion baht once more.  The annual price of one billion baht is also applicable to all licences that are renewed, and operators that require a duplicate licence are required to pay one hundred thousand baht for each copy. 

 It is also required that Thai nationals pay a charge each time they enter a casino that is part of an integrated resort.  The charge for each entry is going to be 5,000 baht, as it has been decided.  Regarding the taxing system, the rules that are now being draughted do not yet include any specific statistics.

 Gambling establishments are required to be a component of a larger integrated resort that includes at least four other entertainment establishments, such as a restaurant, amusement park, department store, hotel, or area dedicated to the promotion of Thai culture.  It is also required by a Royal Decree that casinos in Thailand be situated in a particular region.

 At the moment, the only forms of gambling that are permitted in Thailand are lotteries and horse racing organised by the state.  On the other hand, illegal gambling, which includes casinos that are open to the public, is widespread throughout the country.

 It's been a long time coming for Thailand to get integrated resorts. 
 However, there has been very little progress made on the regulatory front in Thailand, despite the fact that legal casinos have been discussed for a long time.  The arrival of Prime Minister Srettha Thavisin, who brought with him a favourable outlook on legalisation, resulted in an increase in the level of optimism about the situation.

 There is already talk that the Thailand market has the potential to become a major hub for casino gaming, despite the fact that it has not yet been launched.  The Thai gaming business has the potential to surpass Singapore in terms of total gaming income, according to one analyst.

 High-profile operators have already expressed their excitement about the possibility of obtaining integrated resort licenses, so there should be no shortage of interest among candidates for these licenses.

 Who could possibly think of Thailand?
 One of the companies that is contemplating the establishment of a casino in Thailand is MGM Resorts International.  Following the presentation of the company's results for the second quarter, CEO Bill Hornbuckle reaffirmed the company's interest in the Thai market. He also mentioned that he will be visiting Thailand this month to take advantage of a "opportunity" there.

 This is a business opportunity that we are enthusiastic about.  If we do decide to go through with that, we will do so through MGM China Holdings," he stated.

 During an earnings call for the first quarter of this year, Wynn Resorts CEO Craig Billings also made a passing reference to a potential transfer to Thailand.  In his statement, he stated that the organisation would "closely monitor the advancement of the legalisation process."

 Similar remarks were made by Robert Goldstein, CEO and chairman of Las Vegas Sands, during the company's first-quarter conference call.  According to him, the service provider "absolutely has interest in Thailand."

 It is a market that is extremely intriguing on a number of different levels.  He stated that the sheer quantity of the population, the ease of access, and the willingness of people to travel to Thailand were all driving factors.  My opinion is that it is without a doubt the most popular resort destination city in all of Asia.  In spite of the fact that we still have a lot of work to do with the figures and understanding it, it is still early days.

 Bloomberry Resorts Corporation, on the other hand, has refuted rumours that it could construct a new casino in Thailand.  These statements were made in reaction to allegations that the organisation was also contemplating a transfer in the event that the nation legalised integrated resorts.