Thai Government to proceed with casino plan
The announcement was made by Thailand's Deputy Finance Minister.
Thailand’s plans for a mega entertainment complex housing casinos will proceed, according to Deputy Finance Minister Julapun Amornvivat.
The statement was quoted by Thai news media, as Amornvivat announced the decision after the conclusion of a public hearing, where 80% of attendees agreed with the plan.
The Government’s proposed entertainment complex project, which included a casino, was also mentioned when the ‘Casino Bill’ draft was released for public feedback back in August.
The complex is expected to attract Thai gamblers, which would account for 90% of the expected customers. The project is expected to lift tourism revenue by around TBH 12bn ($340m).
The plans to legalise casinos and gambling in Thailand was already in progress and fully supported by former Prime Minister Thavasin before he was dismissed. The current Government has since picked up from where it was halted, with voiced support from the current Prime Minister’s father.
Regarding the above-mentioned mega-entertainment-casino project, the regulations in place included:
- An initial licence for 30 years, for which casinos must renew the permit every 10 years
- The licence fee is TBH 5bn per licence, with an annual fee of TBH 1bn.
- Valid licence is obtained from the Entertainment Complex Policy Committee
- 17% tax on gaming revenue
- Casino entrance fee for Thai citizens will not exceed TBH 5,000 per person
To understand more about Thailand’s background and the legalisation of its gambling sector, check out this in-depth report discussing Thailand’s potential in the global market.
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