Bangkok To Get Two Casino Resorts Under Draft Thai Bill

The Thai government has moved forward into the gaming and entertainment industry by finalizing the draft of the Entertainment Complex Act. The legislation aims to legalize and regulate the operation of casinos within integrated entertainment complexes across the country.

The proposed Entertainment Complex Act is rooted in the government’s recognition of the substantial revenue and investment opportunities presented by the casino and entertainment industry. Government sources say that on Friday 9th August, the Finance Ministry completed the draft of the bill, which will now undergo a public hearing process as mandated by the constitution.

The government’s push for the Entertainment Complex Act is driven by the potential economic benefits it could bring to Thailand. Citing a report from the House committee, the government estimates that the project could generate at least 12 billion Thai baht in tax revenue during the first year of operation. Furthermore, the global business value of casino-based entertainment complexes is projected to reach $2.2 trillion by 2028, presenting a lucrative opportunity for Thailand to capture a share of this market.

The government has drawn comparisons to the success of casino-based entertainment hubs in other countries, such as Macau and Las Vegas. Macau, with a population of just 690,000, generates up to $32 billion annually from its casino-based entertainment complex business, while Las Vegas brings in $30 billion. Singapore, another regional player, earns $2 billion from its casino-based entertainment complexes. Recognizing the potential, the government is now aiming to position Thailand as a major contender.

Under the bill’s 65 sections, an entertainment complex must acquire a license to operate, which is valid for up to 30 years. Operators must pay a 5 billion Thai baht registration fee, as well as an annual payment of 1 billion Thai baht. The complexes will be subject to a comprehensive assessment every five years, and the license can be renewed for an additional 10 years after the initial 30-year period.

The proposed legislation includes several restrictions and safeguards to address concerns and ensure responsible gambling practices. Individuals under the age of 20 are prohibited from entering the entertainment complexes, and Thai citizens must pay a 5,000 Thai baht entrance fee to access the facilities. Additionally, a policy board chaired by the Prime Minister will be established to set the rules and regulations governing the gaming complexes.

According to the government’s plans, five potential host locations have been identified for the entertainment complexes, including two in Bangkok and one each in the Eastern Economic Corridor, Chiang Mai, and Phuket. These strategic locations aim to leverage the existing tourism infrastructure and attract both domestic and international visitors.

While the government remains optimistic about the potential benefits of the Entertainment Complex Act, some concerns have been raised. The opposition Thai Sang Thai Party has expressed apprehension about the legislation, citing potential challenges in enforcing regulations and effectively controlling the casino industry.