The Thai government is pressing ahead with a bill to allow casinos to operate legally within entertainment complexes in the country, with cabinet and coalition representatives discussing the issue on Monday.
A draft of the Entertainment Complex Act is currently under public consultation, as required by the constitution before being presented to the cabinet for consideration. After this process, the bill, along with public feedback, will be presented to the cabinet for consideration.
According to the Bangkok Post, Deputy Prime Minister and Commerce Minister Phumtham Wechayachai said the entertainment complex bill will be on of the topics being discussed in a monthly meeting at Government House between leaders and representatives of the coalition parties
The bill – which the report says is already completed – aims to promote and regulate integrated entertainment complexes that meet standard requirements, as a measure to encourage domestic investment and support sustainable tourism.
Under the bill’s provisions, an entertainment complex must acquire a license to operate, valid for up to 30 years. Operators must pay a THB5 billion ($142.7 million) registration fee and an annual payment of THB1 billion ($28.3 million).
The complexes will be assessed every five years, and the license can be renewed for another 10 years after the initial 30-year period.
The bill prohibits individuals under the age of 20 from entering the venues, and Thai citizens must pay a THB5,000 ($141.8) entrance fee, while foreigners have free access. A policy board chaired by the prime minister will be responsible for setting the rules and regulations governing these gaming complexes.
According to government estimates, the global business value of casino-based entertainment complexes in 2022 amounted to $1.5 trillion, with the figure expected to rise to $2.2 trillion by 2028. The project is expected to generate at least THB12 billion ($340.3 million) in taxes for Thailand in the first year.
However, the opposition Thai Sang Thai Party has criticized the project, stating that lax law enforcement could hinder efforts to regulate the casino industry.
Potential locations to host the Entertainment Complexes include Greater Bangkok, Phuket, Chiang Mai, and Chonburi (Pataya), to be established within 100 kilometers of major airports, and with a paid-up capital of at least $283 million. Thailand will compete with the emerging market of the UAE and, to some extent, Japan.
Galaxy Entertainment Group, MGM Resorts and Las Vegas Sands are among the operators who have already declared interest in the market.
