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The Council of State, Thailand’s legal agency, has released the Casino Bill draft for public feedback until 18 August.
According to Thai news reports, the draft will allow casinos an initial licence for 30 years, in which casinos will have the option of renewing the permit for another 10 years and be housed in large entertainment complexes along with hotels, convention centres and amusement parks, plus the 17% tax on gaming revenue, among some of the rules.
Thailand’s Prime Minister Srettha Thavisin, as well as his deputy Somsak Thepsuthin, were both supportive of the plan to legalise casinos and gambling for better oversight, and proper tax collection plus adding on policies to attract foreign investments.
The House of Representatives, with its 500 members, were also supportive of the move. The study found that Thailand can lift tourism revenue by about TBH12bn (US$0.34bn) by legalising casinos and housing them within large entertainment complexes.
If the bill came to pass, Thailand would be joining countries such as the United Arab Emirates and Japan in trying to compete for a slice of the global casino industry.
Currently, its Southeast Asian neighbours in the Philippines, Vietnam and Singapore are in pole position to compete with global hub Macau.
Major gambling concessionaires, such as Galaxy and MGM China. have already expressed their interests in the nation’s sector when the opportunities are available.
To understand more about Thailand’s background and the legalisation of its gambling sector, look up this in-depth report discussing Thailand’s potential in the global market.
