The government is moving forward with a bill to legalize casinos within entertainment complexes in the country.
As per government sources, the Finance Ministry has completed the draft for the Entertainment Complex Act. This bill will be subjected to a public hearing, in compliance with Section 77 of the constitution, to allow for public involvement in the legislative process.
Following the hearing, the bill, together with public feedback, will be submitted to the cabinet for review, according to the sources. The government has previously expressed positive views regarding entertainment complexes that include casinos.
Deputy Prime Minister and Commerce Minister Phumtham Wechayachai announced that leaders and representatives from coalition parties will convene for a monthly meeting at Government House today. The agenda will cover the entertainment complex bill, which aims to legalize casinos and regulate the gambling sector.
The bill outlines the rationale for establishing entertainment complexes where casinos can operate legally. It argues that the tourism sector has generated significant revenue for the country and that the entertainment industry can further enhance tourist expenditure.
“Promoting and regulating integrated entertainment complexes that meet established standards is essential to foster domestic investment, which will ultimately benefit the country and support sustainable tourism,” stated excerpts from the bill.
The 65-section bill mandates that any entertainment complex must obtain a license to operate, valid for up to 30 years. Operators are required to pay a registration fee of 5 billion baht, along with an annual fee of 1 billion baht, and the complex will undergo evaluations every five years. After 30 years, the license can be renewed for an additional 10 years.
Access to these venues is restricted for individuals under 20 years of age. While all foreigners are permitted entry, Thai citizens must pay a fee of 5,000 baht.
The bill proposes the establishment of a policy board chaired by the prime minister, which will be tasked with creating the rules and regulations for gaming complexes.
Mr. Chai mentioned that the project could significantly impact the economy, citing that the global market value for casino-based entertainment complexes reached US$1.5 trillion (53 trillion baht) in 2022, with projections of it rising to $2.2 trillion by 2028.
According to him, entertainment complexes provide substantial revenue for numerous countries each year. For instance, Macau, with a population of only 690,000, generates up to $32 billion from its casino industry. Las Vegas follows closely with $30 billion, and Singapore generates $12 billion. With Japan planning to develop three such projects, Thailand must expedite its efforts to capture a portion of the global revenue, Mr. Chai added.
As stated in the House committee’s report on the entertainment complex initiative, the project is anticipated to generate at least 12 billion baht in tax revenue for the country within the first year.
The House committee’s study focuses on three key areas: the economic, social, educational, and cultural implications of introducing such venues in Thailand; the business structure and revenue collection mechanisms; and the legal frameworks and criteria for entertainment and gambling regulations. Five locations have been identified as potential sites for the project: two in Bangkok and one each in the Eastern Economic Corridor, Chiang Mai, and Phuket.
Nevertheless, Pariyes Angkurakitti, a spokesperson for the opposition Thai Sang Thai Party, criticized the project, arguing that weak law enforcement could undermine efforts to effectively regulate the casino industry.
