Asia
Donaco CEO Lee Bug Huy Says Imminent Legalisation of Casinos in Thailand Unlikely
Lee Bug Huy, CEO of Australian-listed Donaco International, has said that he does not think Thailand will legalise gambling soon.
Lee made the above comment in response to questions from investors after the company published its report for the first half of the current financial year.
Asked what he thought about the potential legalisation of casinos in Thailand and if his company had measures in place to mitigate the financial risk, the executive said that “at this stage we do not expect the Thai Government to legalize gambling” and that as they weather the impact of the Covid-19 crisis, they will “carry on our rigorous cost control strategy and prepare for when the border reopens.”
Thai Prime Minister Prayut Chan-o-cha indicated that the legalisation of gambling was under discussion in January. He said that he might consider a casino measure in a bid to curb the proliferation of illegal gambling establishments in the country.
Thailand has one of the toughest anti-gambling regulatory frameworks in Southeast Asia. Under the nation’s gambling law, which was enacted back in 1935, state-run lotteries and betting on horse races are the only legal gambling activities.
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