Deputy Finance Minister Julapun Amornvivat has stated that the government’s upcoming integrated entertainment complex development project will incorporate a casino component occupying no more than 5% of the total project area.
Mr. Julapun emphasized that the project will not solely focus on gambling venues and hotels but will also include other significant investment elements. The size of the gaming area is restricted to 5% and will vary based on the involvement of various governmental entities in each complex.
Drawing parallels to a similar project in Singapore, where the law mandates that the gaming area should not exceed 5% of the total project area, Mr. Julapun reported that the completed project in Singapore only allocated 3% of the area for gaming purposes.
Following a study conducted by a special House committee on the entertainment complex, the cabinet assigned the Finance Ministry to evaluate the project’s feasibility and scrutinize its specifics. The Ministry has requested a two-week extension for further analysis due to the project’s complexity.
The Ministry plans to collaborate with 16 relevant agencies to discuss various aspects of the project, including the necessity for new legislation, site selection, determining responsible parties, assessing impacts (both positive and negative), and creating a fund to address any negative consequences.
The House report focused on three key areas: the project’s implications on economic, political, social, environmental, educational, and cultural policies; the business structure of the integrated entertainment venue and revenue generation for the state; and the legal aspects, including regulations on casinos and integrated entertainment venues. The report recommends implementing a casino tax with specific rates, creating a fund for mitigating negative impacts, and conducting a study to update or create legislation relevant to such venues in line with societal changes.