Thailand’s government is poised to advance its plan for entertainment complexes featuring casinos, following substantial support from a recent public hearing.
Deputy Finance Minister Julapun Amornvivat announced on Thursday that 80 percent of attendees supported the proposed casino project. This public hearing was mandated by the constitution.
According to the Bangkok Post, the hearing, organized by the Ministry of Finance, provided stakeholders an opportunity to discuss the draft bill for the entertainment complex.
Julapun stated that feedback from the hearing would be used to refine the bill before it is submitted for further consideration.
The revised bill will be presented to the cabinet for approval by coalition parties. If endorsed, it will proceed to the Council of State for review and then to the House of Representatives. This step is essential in the legislative process for legalizing entertainment complexes, including casinos, in Thailand.
Currently, most forms of gambling are illegal in Thailand, except for state-controlled horse races and an official lottery. Despite this, underground betting remains prevalent. The proposed entertainment complex aims to address this by offering a regulated environment for gambling.
A recent Finance Ministry study indicates that the planned casino is expected to attract a significant number of Thai gamblers, potentially up to 90 percent of its customers. Meanwhile, the study also suggests that up to 37 million Thai residents could potentially visit a casino.
The Entertainment Complex Policy Committee, chaired by the Prime Minister, will set policies related to the management of the complex.
According to the available information, companies seeking a concession for an entertainment complex must be either limited or public limited companies with registered capital of at least THB10 billion ($294 million). They must also obtain a license from the Entertainment Complex Policy Committee.
The license will be valid for 30 years and may be renewed for up to 10 years at a time. The license fee is THB5 billion ($148 million), with an annual fee of THB1 billion ($29 million). The casino entrance fee for Thai citizens will not exceed THB5,000 ($148) per person, according to previous reports.
Several past administrations have attempted to legalize gambling to boost employment, state revenue, and tourism, but have faced resistance from conservative groups in the predominantly Buddhist country. The Pheu Thai Party, a key supporter of the plan, argues that Thailand has fallen behind its Southeast Asian neighbors in the gaming industry.
Thaksin Shinawatra, a prominent figure and father of Prime Minister Paetongtarn Shinawatra, has been a major advocate for regulating and taxing online gambling. In a recent speech, he emphasized the potential economic benefits of formalizing the underground economy.
