Wynn and MGM hold meetings with Thai government over casino projects
Thailand’s Deputy Finance Minister Julapun Amornvivat has confirmed that Wynn Resorts and MGM Resorts have held meetings with the government regarding their interest in developing casino resorts in the country with two more huge operating names also scheduled for meetings.
The Bangkok Post reported that Wynn’s President of Development Chris Gordon, and MGM’s President of Global Development Ed Bowers have held face-face meetings with the government.
Mr Julapun was quoted by The Post as saying: “We are now signalling clearly that we are open to discussions with investors, especially as we move forward with drafting legislation and seek to attract over THB100bn in investment. Both Wynn and MGM Resorts share the same view as us.”
“They are interested in investing in Thailand and believe our legal framework is quite solid, especially regarding money laundering and gambling regulation.”
“Integrated resorts not only have a significant impact on economies and tourism, but they also help to eliminate existing problems related to gambling,” said Mr Bowers.
He added that he hopes Thailand moves forward with a casino tax rate similar to Singapore’s and that locals should be allowed to visit the casinos. Singapore uses a tax rate of 17 per cent on GGR while Macau and Japan use rates of between 30 and 40 per cent.
