Thailand’s Finance Ministry expects the proposed bill to legalize casinos to be debated in Parliament before the end of this year, with a key legal review set to conclude by March 6th.
This update was reported by the local media outlet The Nation on Monday.
The bill, which is part of the broader Entertainment Complex initiative, is expected to pave the way for casino resorts aimed at boosting tourism, creating jobs, and attracting investment. The draft Entertainment Complex Bill was approved by the Cabinet on January 13th, allowing for the establishment of these resorts.
The Council of State, the government’s legal adviser, has been reviewing the bill for 50 days, focusing on determining what proportion of each entertainment complex can be dedicated to casino operations. Deputy Finance Minister Julapun Amornvivat has proposed limiting casino space to 10 percent of each complex.
Despite the government’s efforts, public opposition to legalized gambling remains strong. A poll conducted by the National Institute of Development Administration (NIDA) revealed that a majority of the Thai public still opposes the legalization of casinos.
Meanwhile, the country’s opposition is set to file a no-confidence motion against the government on February 27th, with the Thai Sang Thai Party (TST) vowing to target the administration’s controversial entertainment complex policy, which it claims is a disguised effort to legalize casinos.
The push to legalize casinos is being led by former Prime Minister Thaksin Shinawatra, father of current Prime Minister Paetongtarn Shinawatra, who has suggested creating a Las Vegas-style gambling hub in Thailand. A royal decree to specify potential sites for entertainment complexes is also in progress.
An ad hoc committee will be formed to assess the suitability, location, and financing of these casino resorts, as well as to evaluate their pros and cons for both the public and the government. The Entertainment Complex Policy Committee, chaired by the prime minister, will oversee the management, licensing, area designation, and safety of the complexes.
Additionally, an executive board appointed by the prime minister will be responsible for implementing the strategy, managing budgets, collecting fees, and addressing complaints. A dedicated office will also be set up to inspect venues, suspend illegal gambling operations, and confiscate assets when necessary.
Casino resort operators will be required to have a minimum registered capital of THB10 billion ($297 million), with a 30-year license costing THB5 billion ($148 million). An annual fee of THB1 billion ($29.7 million) will also be imposed, with a review of the license every five years.
According to previous reports, Prommin Lertsuridej, Secretary-General to Prime Minister Paetongtarn Shinawatra, stated that, if fully implemented, casinos in Thailand could position the country as a major player in the global gaming market.
Citigroup analysts predict that Thailand’s gross gaming revenue could reach $9.1 billion, making it the third-largest gaming market in the world, behind Macau and Las Vegas, but ahead of neighboring Singapore.
Global operators such as Galaxy Entertainment Group, MGM Resorts International, Las Vegas Sands Corp., and Wynn Resorts are eyeing opportunities in Thailand, seeing it as a potential hedge against uncertain prospects in Macau.
