The agreement was reached Thursday in talks between Prime Minister Abhisit Vejjajiva and GTech chairman Donald R. Sweitzer and its Singapore-based vice-president for Asia Pacific, Brian Sheehan, at Government House.
The meeting, lasting about 20 minutes, was unscheduled.
Kiat Sittheeamorn, president of the Thailand Trade Representative Office, told reporters after the meeting that the GTech representatives gave a clear message that the firm has no intention to take legal action against the government.
Mr Kiat headed the panel assigned by the prime minister to study laws and contracts made with LGT to determine how to end the electronic lottery project.
The Thailand Trade Representative Office chief had earlier met the American LGT executives on January 13.
The US company said it is ready to cooperate with the government to find the best solution to be mutually agreed by both parties.
However, Mr Kiat said, while the company representatives were upset that Thailand decided to scrap the project, it is understandable as it reflects the government’s policy on social affairs.
Loxley GTech is satisfied that the goverment has committed to resolving the dispute fairly and will follow the contractual conditions, he said, adding that the firm's prospect towards Thailand would remain unchange.
No specific proposal was presented at Thurday’s talks, Mr Kiat aid, as it was too early to go into detail, especially regarding compensation.
Meanwhile, Mr Sweitzer said his trip was intended to gather information and clarity on the Thai government's policy. He affirmed that his company will comply with the government's decision.
Cancelling the project will cause the company significant damage and should be fairly compensated, he said, emphasizing that he was responsible for protecting the company's interests and remains prepared to talks with the government to arrive at an amicable solution.
Mr Sweitzer said he hoped the negotiations could be completed shortly.
Assigned by the ousted government of prime minister Thaksin Shinawatra to install electronic lottery vending machines in Thailand, Loxley GTech earlier threatened to sue the government for Bt3 billion if the Abhisit government scrapped the long-delayed project.
Under the agreement with the Government Lottery Office (GLO), Loxley is responsible for setting up the system and providing equipment, technology and services for a national online lottery in Thailand. Loxley was to receive a 75 satang fee per lottery ticket while the GLO was to own the electronic lottery.
LGT did not receive the concession from the government and the GLO-LGT contract did not come under the Public-Private Joint Venture Act, but the Office of the Council of State of Thailand had approved carrying out the online lottery under the contract.
The prime minister said earlier the project would have negative quality of life impact on society, especially on youth.
Source: TNA
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