Thailand’s cabinet has approved in principle on Monday the Entertainment Complex Bill for casino liberalisation, said the country’s prime minister Paetongtarn Shinawatra.
“Legalisation will protect the public and would also generate more state revenue,” Ms Shinawatra (pictured in a file photo) told reporters, according to the Bangkok Post newspaper. The government also expects to tackle illegal betting with the new legislation, she added.
Under the government’s plan, the draft law would see gambling take place in large-scale entertainment complexes.
The draft legislation will be scrutinised by the country’s Council of State before it is sent to the lower house of parliament for discussion and approval, the prime minister said after a weekly cabinet meeting.
It had been suggested in December that Thailand was poised to pass this year the enabling bill for land-based casinos.
Thailand’s Finance Ministry is promoting the bill as an economic driver, projecting increased tourism revenue of up to THB475.5 billion (US$13.7 billion) annually, with 9,000 to 15,300 new jobs created and government revenue gains of THB12 billion to THB39 billion per year.
The current draft bill proposes casino licences running for 30 years, with the possibility of renewal for a further 10 years. Each casino resort would require at least THB100 billion (US$2.88 billion currently) in investment.
Casino resorts in the country could only be operated by a limited company or a public limited company registered in Thailand, which must have a paid-up capital of at least THB10 billion.
The bill also outlines other forms of business permitted in the entertainment complexes aside from gaming. They include hotels, conference centres and tourism attractions.
The Bangkok Post reported the Interior Minister Anutin Charnvirakul as saying that once the country’s Council of State vets the draft bill, the cabinet will again review the legislation as it concerns several government agencies.
A panel chaired by the prime minister will later propose finer rules, including the income tax rates for casinos, the number of licences, and the locations.
A number of casino operators have flagged their interest in investing in Thailand. Melco Resorts & Entertainment Ltd opened a representative office in Thailand’s capital, Bangkok, to explore new opportunities in the country, said last week the firm’s chairman and chief executive, Lawrence Ho Yau Lung.
