The Thailand authorities have dropped a proposal that the country’s citizens should have a minimum of THB50 million (US$1.5 million) in bank deposits before being able to gamble in any casinos that might be built there.
That is according to Monday reports citing Julapun Amornvivat, deputy finance minister, saying that such a threshold would be too restrictive, as records indicated only 10,000 individual bank accounts in the kingdom holding such sums or higher.
The reports also cited the official as saying that instead, the qualification for locals would be that they had submitted three years of tax returns.
The stories did not clarify what portion of the adult population was likely to be qualified to gamble under such a provision.
The earlier THB50-million condition had been added to a draft of the Entertainment Complex Bill – enabling legislation for casino complexes in that Southeast Asian nation – last month by the Council of State, an advisory body on the country’s laws.
The Bangkok Post, one of the news outlets, on Monday quoted Mr Julapun as saying: “The [Finance] Ministry has checked the data and found there are only 10,000 Thai accounts with at least THB50 million.”
Reuters additionally quoted Mr Julapun as saying: “This criteria would not be able to solve illegal gambling.”
Reuters further cited the official saying on the other hand, that the THB50 million condition would have been too commercially restrictive on a nascent Thai casino sector. Under that proposed rule, “more than 70 million people won’t be able to enter casinos”. That was a reference to Thailand’s general population.
“So, the former requirement would push people to gamble elsewhere [overseas], which could be illegal.” Mr Julapun added, saying the fresh amendment with the condition for three years of tax returns “has been agreed on by the ministry and the Council of State”.
The proposed casino entrance fee of THB5,000 for locals would remain, he said.
The updated draft law will be submitted to the country’s cabinet for approval and then sent to the National Assembly before the current sitting ends on April 11, Mr Julapun said.
Pichai Chunhavajira, a deputy prime minister and minister of finance, was separately cited by the Bangkok Post as saying the updated draft of the Entertainment Complex Bill had been signed by Anutin Charnivirakul, a deputy prime minister and interior minister.
The measure had been sent to the cabinet secretariat on February 28, but it would not be on this week’s cabinet agenda, Mr Pichai said.
Reuters cited data indicating that the Thai government – as part of its economic development plans – hoped to attract at least THB100 billion in new investment, lift foreign visitor numbers by 5 percent to 10 percent, and generate revenue of more than THB12 billion a year.
