Thailand’s Interior Minister Anutin Charnvirakul has said a proposal to create a high-income qualification for any Thais that wanted to wager in casino resorts mooted for that nation is not likely to gain approval by the country’s cabinet.
Most Thai nationals would in likelihood be priced out of gambling at any Thai casino resorts, under a new draft of the Entertainment Complex Bill, the enabling legislation, proposed by the country’s Council of State, a law-review body.
Under the fresh draft, Thais wishing to enter casinos would be required to present a fixed-deposit bank account statement showing a balance of at least THB50 million (US$1.5 million) dating back six consecutive months.
“It is difficult for the proposal to win the cabinet’s approval,” said Mr Anutin, also a deputy Prime Minister, in comments reported by the Bangkok Post newspaper.
Pakorn Nilprapunt, secretary-general of Thailand’s Council of State, said earlier this week that the proposed wealth threshold for locals play was due to social concerns about the risk of problem gambling among people with fewer means.
The bill is subject to scrutiny via a public hearing process, with a deadline of March 1 having been mentioned. The content of the latest draft would be part of the public review process, according to Mr Pakorn.
On Thursday, the Bangkok Post also cited the country’s deputy Finance Minister Julapun Amornvivat as saying that the Entertainment Complex Bill aimed to tackle illegal gambling, attract foreign investment and boost the nation’s economy.
Mr Amornvivat said additionally – as quoted indirectly by the Bangkok Post – that if the proposed entry requirement became effective, it could mean that most Thais would be unable to enter a legal local casino, prompting them to visit illegal venues in neighbouring countries.
Thailand’s cabinet approved in principle on January 13 the Entertainment Complex Bill for casino liberalisation, announced that day the country’s prime minister, Paetongtarn Shinawatra.
On Thursday, casino operator Genting Singapore Ltd said the group was “closely monitoring” the developments regarding the legalisation of casino resorts in Thailand.
Genting Singapore’s management however said – in a follow-up call with investment analysts – that it would be hard to commit to a sizeable investment for a casino resort if the Thai market is mostly aimed at foreigners.
“Genting Singapore stated that it hopes that Thai lawmakers will reconsider the onerous requirements so that it can make a meaningful bid for a Thai casino licence,” said Maybank Investment Bank Bhd in a Friday memo, citing the casino firm’s management.
The proposed entry level for local casinos has the potential to shift the economic focus of the country’s casino-legalisation push, said a number of observers in comments to GGRAsia. In the view of several, it could dampen investment interest among international casino brands.
Thai cabinet unlikely to back wealth threshold for locals to enter casinos: minister
