The government is moving forward with a bill that would permit casinos to operate legally within entertainment complexes throughout the country. The Finance Ministry has completed the draft of the Entertainment Complex Act, which will now undergo a public hearing to ensure public participation in the legislative process.
After the public hearing, the bill, along with feedback from the public, will be submitted to the cabinet for review. The government has expressed support for entertainment complexes that include casinos, citing the potential economic benefits of the tourism and entertainment industries.
Deputy Prime Minister and Commerce Minister Phumtham Wechayachai announced that leaders and representatives of coalition parties will convene at Government House to discuss the entertainment complex bill. This bill aims to legalize casinos and regulate the gambling industry within these entertainment complexes.
The bill emphasizes the importance of promoting integrated entertainment complexes to boost domestic investment and enhance sustainable tourism. It outlines the licensing requirements for entertainment complexes, including a significant registration fee and annual payments.
The proposed bill prohibits individuals under the age of 20 from entering these venues and imposes entrance fees for Thai citizens. A policy board chaired by the prime minister will be established to oversee the regulations governing gaming complexes.
The economic impact of casino-based entertainment complexes is significant, with global revenues projected to increase substantially by 2028. Countries like Macau, Las Vegas, and Singapore have seen substantial revenue from these ventures, prompting Thailand to accelerate its own project to tap into this lucrative industry.
The House committee’s report on the entertainment complex scheme estimates significant tax revenues for the country in the first year of operation. The project’s potential hosts include locations in Bangkok, the Eastern Economic Corridor, Chiang Mai, and Phuket.
However, opposition parties have raised concerns about the enforcement of laws and regulations governing the casino industry, emphasizing the need for strict oversight to prevent potential issues.
The legalization of casinos within entertainment complexes represents a significant opportunity for Thailand to boost its tourism industry and attract investment. With proper regulation and oversight, this initiative could lead to substantial economic benefits for the country.