Casino Complex Law Set to Reach Thai Cabinet by Year-End

[webfact]

File photo courtesy: Wikimedia

 

The Thai government is preparing to introduce a groundbreaking draft law on the establishment of entertainment complexes, including legal casinos, to the cabinet for approval by the year's end.

 

This announcement came from Deputy Finance Minister Julapun Amornvivat, who stated that following cabinet assent, the draft bill will proceed to parliamentary debate. The Thai House of Representatives is scheduled to resume its regular session from mid-December until April next year.

 

This proposed legislation marks a significant shift, aiming to establish Thailand's first legal casinos. The draft law has recently undergone a public consultation, garnering substantial support, with 82% of respondents in favour of the initiative.

 

A study by the Fiscal Policy Office suggests that the introduction of these entertainment complexes could increase foreign tourist numbers by 5-20%, boosting average visitor spending from 40,000 to 60,000 baht.

 

These complexes are expected to significantly contribute to Thailand's economic growth, not just through the initial construction phase but also post-completion by attracting tourists and creating jobs for local residents.

 

Mr Julapun expressed a preference for employing as many Thai citizens as possible within these complexes, acknowledging the potential need for training to equip them with necessary skills.

 

For private investors, the draft law specifies a minimum registered capital of 10 billion baht. The government will evaluate investment proposals based on their alignment with desired man-made tourist attractions, reported Bangkok Post.

 

Thais planning to visit these casinos will face an entry fee capped at 5,000 baht per visit. The draft legislation also outlines a 30-year concession period for operators, with licenses renewable every 10 years. The license fee is set at 5 billion baht, supplemented by an annual fee of 1 billion baht.

 

-- 2024-10-24

 

 

[Geoffggi]

This will end in tears for sure 

[harryviking]

LOL! Guess who will be the biggest share holder in these casinos??  I see a former very sick man suddenly became well buying it all!🤣

[hotchilli]

5 hours ago, webfact said:

A study by the Fiscal Policy Office suggests that the introduction of these entertainment complexes could increase foreign tourist numbers by 5-20%, boosting average visitor spending from 40,000 to 60,000 baht.

Pure speculation.

[Snackbar]

Fantastic motivation for smart young Thais’