The CEO of Australian-listed Donaco International Ltd says he does not expect authorities in Thailand to legalize gambling, expressing confidence that the company will stage a strong recovery over the coming year as the impacts of the COVID-19 pandemic start to ease.
Lee Bug Huy, who was appointed CEO last year following a boardroom makeover, and Donaco’s CFO Gordon Lo were responding to questions from investors on Friday following release of the company’s 1H21 (July to December) results a week earlier.
The potential for Thailand to open its own casinos was raised by Prime Minister Prayut Chan-o-cha in January, who stated he would consider the measure in a bid to curb a growing number of illegal gambling dens.
But Lee said Friday that such a dramatic policy shift seems unlikely.
“At this stage we do not expect the Thai government to legalize gambling in the country,” he…
