Thailand moved closer to casino legalization by publishing a draft bill calling for public feedback by August 18. [Image: Shutterstock.com]

Closing on goal

Thailand has taken another rapid step toward meeting Prime Minister Srettha Thavisin’s goal of launching gaming complexes in the country by 2027 with the release of a draft bill of proposed casino legislation.

Thailand’s Council of State released the 22-page Draft of the Complete Entertainment Business Act B.E. on Friday, with a call for public feedback by August 18.

casino regulatory body that will report to a committee to be chaired by PM Thavisin

Inside Asian Gaming cites the bill as proposing a casino regulatory body that will report to a committee to be chaired by PM Thavisin. According to the bill, the body will “regulate, supervise, control, promote, and support integrated entertainment venues” from its head office in Bangkok.

Thavisin’s committee will also set broader policy including “issuance of licenses, tax rates, permitted business nature, entry levies and restrictions, employee criteria, executive criteria.”

Land of broader smiles

Known as the Land of Smiles, Thailand’s fast-tracked path to casino regulation offers, for most of those involved, even more to grin about. Contrast Thailand’s casino trajectory backed by nearly unanimous parliamentary support and cabinet approval with that of Japan and its slow and heavy regulatory processes.

Japan’s lack of pace means Thailand could be the country of choice for casino customers initially intended for Osaka’s MGM Resorts-led project, Japan’s first-ever integrated resort expected to open by fall 2030. One industry expert has already warned that Thailand jumping Japan’s train could hurt the IR.

tax for Thailand casino operators would be set at 17%, compared to Japan’s 30%

Thailand also offers a more attractive market for gambling operators, with tax rates and regulations, as glimpsed in the new draft bill, far more favorable than in Japan. Under the current draft proposal, Thai casinos would initially get given a 20-year license, compared to just ten-year licenses for Japan IRs. Gross gaming revenue tax for Thailand casino operators would be set at 17%, compared to Japan’s 30%.

Another sun rises

Thailand’s emergence as a potential Asian casino giant isn’t just stealing Japan’s sunshine, it’s also catching the eye of US investors, such as MGM Resorts and Las Vegas Sands.

LVS CEO Rob Goldstein told a Wall Street analyst earlier this year that Thailand was “absolutely” of interest to the casino giant, citing the large population, mass tourism, and easy accessibility.

According to studies, the legalization of the Thai gaming industry will boost the country’s tourism revenue by $12bn.