The Thai government will determine the locations of integrated casinos. According to the casino legislation bill, this will ensure fairness among bidders in the proposed casino entertainment facilities. Deputy Finance Minister Julapan Amornvivat said the legislation will create a government committee to decide the number of casinos in the country.
After deciding the number of casinos, the committee will seek approval from the Cabinet. According to Amornvivat, this complies with the current version of the bill. In addition, a study from the Fiscal Policy Office showed that integrated casinos would bring in five to twenty percent more foreign tourists. As a result, the country would earn an average of B60,000 per visitor. The average spending rate of foreign visitors is currently at B40,000.
According to pay per head experts, the government is pushing to legalize casinos within entertainment resorts in Thailand. A public hearing on the legislation took place in August. Also, the Ministry of Finance expects the bill to be forwarded to the Cabinet by the end of this year.
Thailand’s Casino Legislation Bill
Based on 65 sections of the bill, entertainment complexes require a license to operate. Licenses are valid for 30 years. Operators must also pay a B5 billion registration fee and B1 billion annually. The government will assess entertainment complexes every five years. In addition, they can renew the license after it expires. However, the renewed license is valid for ten years. However, there are no talks of allowing companies of becoming a bookie in the country.
Players must be at least 20 years old to enter casinos. Foreigners can also enter casino complexes. However, Thais must pay a B5,000 entrance fee.
According to the bill, the government will establish a policy board with the prime minister as its chair. In addition, the policy board will develop guidelines to govern the casino complexes in the country.
Proposed Casinos in Thailand
Casino industry experts saw five potential locations for the entertainment complexes in Thailand: two in Bangkok and one each in Phuket, Chiang Mai, and the Eastern Economic Corridor. The deputy finance minister said their department would discuss with coalition partners to convince them to agree with the integrated casino project.
The proposed casino project is part of the current government’s policy statement. Premier Paetongtarn Shinawatra presented the framework for the project in parliament on September 12. In addition, Bhumjaithai leader Anutin Charnvirakul said the coalition partners would discuss the proposal before they submit it to the Cabinet.
Legislation to legalize the gambling business in Thailand is anticipated to reach the cabinet this year and be debated in parliament early next year. Under the proposed law, five or more gaming-integrated resorts (IRs) would open their virtual doors. The Eastern Economic Corridor, Chiang Mai, or Phuket are potential sites. Both international conferences might be held in Bangkok, the capital city.
According to a guide to live sports betting, the pitch includes plans to attract more tourists, entice foreign investment, and create more employment. Now that money is going underground or to casinos outside the nation, licensed casinos would be able to collect it as well. Over eighty-two percent of those who took part in the public feedback session gave the idea good grades.
Legal casinos, however, have their detractors who worry they would encourage problem gambling and financial crimes. Underground banking and money laundering have long been facilitated throughout Southeast Asia through casinos and other high-cash-volume enterprises, according to a January study from the UN Office on Drugs and Crime.
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