The government is advancing a bill to legalise casinos within entertainment complexes across the country. According to sources, the Finance Ministry has completed drafting the Entertainment Complex Act. The bill will undergo a public hearing as required by Section 77 of the constitution, ensuring public input before being presented to the cabinet for review.

Why the move?

Deputy Prime Minister and Commerce Minister Phumtham Wechayachai confirmed that coalition party leaders will meet today to discuss the bill, which aims to legalise and regulate casinos as part of the broader entertainment industry. The bill argues that such complexes can significantly boost tourism revenue and domestic investment.

How does it work?

Under the proposed legislation, entertainment complexes must obtain a license valid for up to 30 years, with an initial registration fee of 5 billion baht and an annual payment of 1 billion baht. The license can be renewed for an additional 10 years after the initial period. Entry to these complexes is restricted to individuals over 20 years old, with Thai citizens required to pay a 5,000 baht entrance fee.

The bill also establishes a policy board, chaired by the prime minister, to oversee regulations governing these complexes. According to Mr. Chai, the project could have a substantial economic impact, with the global casino-based entertainment complex industry projected to grow from $1.5 trillion in 2022 to $2.2 trillion by 2028. He emphasised the need for Thailand to expedite its plans to capture a share of this lucrative market.

A House committee report estimates that the project could generate at least 12 billion baht in taxes in its first year. The report examined the economic, social, cultural, and legal implications of the initiative, identifying five potential locations: two in Bangkok, and one each in the Eastern Economic Corridor, Chiang Mai, and Phuket.

However, Pariyes Angkurakitti, a spokesman for the opposition Thai Sang Thai Party, criticised the project, warning that lax law enforcement could undermine efforts to properly regulate the casino industry.

Source: Bangkok Post