Talks underway
Two Nevada–based casino heavyweights have reportedly been in Thailand for talks regarding the country’s plan to launch integrated casino resorts (IR) by 2027.
According to the Bangkok Post, a Thai government official stated IR-related meetings with executives from both MGM Resorts International and Wynn Resorts had already taken place.
four major foreign investors have already scheduled meetings
Thailand’s Deputy Finance Minister Julapun Amornvivat said on Monday that four major foreign investors have already scheduled meetings with Thai authorities over the IR market.
Only MGM and Wynn were identified as two of the four major players stepping up their intent to take their Thailand IR interest to the next level.
Interests made clear
Thailand’s The Nation on Tuesday led with photographs of MGM’s President of Global Development Ed Bowers attending a Monday meeting, reportedly with Julapun.
Friday, Julapun was pictured meeting with Wynn.
The media outlet quoted the Thai official as stating two unnamed operators were also scheduled to meet with government representatives soon.
signalling clearly that we are open to discussions with investors”
Julapun stated: “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 THB100 billion ($3.01bn) in investment.”
The Bangkok Post meanwhile cited the minister stating his government was not targeting “small or unprepared investors.”
On the same page
The government finance deputy reportedly appreciated the level of intent coming from the two Nevada gaming juggernauts, stating the pair:
share the same view as us.”
Julapun stated after the meetings that MGM and Wynn “are interested in investing in Thailand and believe our legal framework is quite solid, especially regarding money laundering and gambling regulation.”
