GGRAsia – Thailand casino law maybe effective mid-Oct: MP

Thailand casino law maybe effective mid-Oct: MP

Dec 03, 2024 Newsdesk Latest News, Rest of Asia, Top of the deck

Thailand’s planned Entertainment Complex Bill to legislate for casino resorts could be effective as law as soon as mid-October next year, said on Tuesday a Thai MP.

Chulapong Yukate (pictured) was speaking to GGRAsia on the sidelines of the Thai Entertainment Complex Summit in the country’s capital, Bangkok.

He explained during a presentation at the event, that the relevant legislation would be discussed in three sessions of the National Assembly in the next sitting, which starts on December 12, and runs until April 12 next year. Assuming the bill was passed no later than April 12, a further 180 days would need to elapse before the legislation could be published in the government’s gazette.

He also clarified to GGRAsia on the sidelines of the event, that the government’s aim was then to issue licences by the end of 2025. He said the goverment measure does not specify the number of gaming resorts, but said the “rumour” was there would be up to five, as already reported by Thai media.

The actual number would be the subject of a government decree, separate from the framework legislation.

The MP, a representative of the opposition People’s Party, is a corporate finance lawyer by profession, and has worked for Baker McKenzie.

He explained that his party was going to sponsor a separate bill on Entertainment Complexes, that would follow the structure of the eight chapters of the government bill. That would be discussed in parliament, at the same time as the government’s bill.

The idea was not to supplant the government’s bill, but to combine the best of both measures, he stated. The People’s Party wanted to emphasise the value of having input from foreign expertise.

Mr Yukate said that normally, Thai law mandated foreigners could only own up to 49 percent of an enterprise in Thailand. The government’s act does not mention any parameters on foreign ownership, he said.

He considered that a positive. “We don’t have in Thailand that expertise of running casinos,” he also told GGRAsia on the sidelines of the event.

In his presentation, the MP said that – in terms of the detail of the legislation chapters – two key ones deal with setting up a 15-person Entertainment Complex Policy Committee, that would be chaired by the country’s prime minister.

There would also be a 15-person Entertainment Complex Management Committee, with a chairperson appointed by the prime minister.

Fines for infringement of casino legislation would be THB500,000 (US$14,510) – applicable to corporate entities – under the government’s bill, said the MP.

Penalties would not include imprisonment, though the latter option does apply to illegal gambling, covered by separate and existing legisation, Mr Yukate clarified.