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Thai Cabinet Approves Bill to Legalize Casinos in Thailand
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- Created: Monday, 13 January 2025 09:12
Things are about to change in the Kingdom of Thailand as the Thai Cabinet Approves Bill to Legalize Casinos in Thailand. In an announcement by Paetongtarn Shinawatra, the Prime Minister of Thailand, the cabinet has approved a draft that would introduce casinos to Thailand.
At the moment, most forms of gambling are not legal in Thailand. Casinos and the majority of gambling activities are prohibited in Thailand. The only legal forms of gambling available to Thai are certain state-run horse betting races and the official Tai lottery. However, soccer betting, illicit gaming operations, and lotteries are prevalent, involving substantial amounts of money being exchanged.
The Integrated Entertainment Business Act, referred to as the Entertainment Complex Bill, is set to permit the establishment of casinos within integrated resorts. Prime Minister Paetongtarn Shinawatra announced this development to reporters in Thailand earlier today.
The cabinet of Thailand will now forward the draft legislation to parliament for additional consideration. It has been indicated that the law may be enacted by mid-2025, contingent upon the approval of both the Senate and the House of Representatives.
Thai Cabinet Approve Bill to Legalize Casinos in Thailand – Key Features of the Bill
The bill's key provisions stipulate that casinos must be incorporated within full-service integrated resorts, akin to the model established in Singapore.
These resorts are required to feature a minimum of four non-gaming attractions, which may include hotels, stadiums, concert halls, theme parks, restaurants, clubs, and retail areas. Notably, the gaming sections are restricted to a maximum of 5% of the total area of each integrated resort.
For those that want to open a casino, the licenses will be granted for a duration of 30 years, with operators undergoing evaluations every five years. Each renewal can extend for a period of up to 10 years.
Applicants for licenses must be registered in Thailand and must demonstrate a minimum paid-up capital of THB10 billion (approximately £237 million/€286 million/$288 million). Successful applicants will be required to pay an initial fee of THB4.9 billion per license, in addition to annual fees of THB1.0 billion.
The government plans to issue five casino licenses initially, which will include two in Bangkok and one each in Pattaya, Chiang Mai, and Phuket.
Regarding taxation, the draft bill suggests a tax rate of 17% on gross gaming revenue. The Office of the Full-Service Entertainment Regulatory Commission will oversee the regulation of the legal gambling market.
The Aim of Legalizing Casinos is to Boose Tourism from legal Gambling
Thailand's neighboring countries, such as Cambodia, Singapore, the Philippines, Laos, and Myanmar, have reaped significant benefits from the establishment of large casino complexes. In contrast, the Thai government contends that the lack of legal casinos is a missed opportunity for revenue generation and hinders the country's tourism potential.
Tourism plays a crucial role in driving the economy of Southeast Asia's second-largest nation, and Thailand anticipates record numbers of visitors in the coming years. Paetongtarn expressed to reporters that "legalization would safeguard the public and simultaneously increase state revenue."
The recent approval of the draft legislation sets the stage for Thailand to embark on a similar path.
If gambling and casinos are legalized as anticipated, the government projects an increase of 5% to 10% in the total number of foreign visitors to Thailand. Deputy Finance Minister Julapun Amornvivat further estimates that tourism revenue could rise by as much as THB220 billion.
Additionally, the legalization of gambling could lead to the creation of between 9,000 and 15,000 new jobs.
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