Thailand Set to Proposal Casino Bill, Eyeing Economic Boost

[snoop1130]

 

Thailand's government, led by Deputy Finance Minister Chulaphan Amornvivat, is preparing to propose a landmark bill that could see legal casinos established within integrated entertainment complexes by the end of the year. Touted as a strategy to revitalise the nation’s economy, the initiative forecasts the development of multifaceted complexes combining leisure activities with discreet casino operations, capped at ten percent of each venue's function.

 

Investors looking to partake in this venture must back their aspirations with substantial financial credentials, demonstrating a minimum registered capital of 10 billion baht. The commitment includes hefty licensing and annual fees, underscoring the serious investment required for participation. Licenses will span 30 years, with potential extensions of an additional decade.

 

Interest is already cascading in from both domestic and international stakeholders, eager to secure one of the five initial licenses. Potential sites on the table include the historic Nang Loeng Racecourse in Bangkok, the iconic Siam Park City, the strategic U-Tapao International Airport, the bustling Bangkok Mall, and the hospitality jewel, Hua Hin's Proud Group. Together, they promise a blend of casino gaming, lavish hotels, top-notch restaurants, vibrant nightlife, and thrilling amusement parks.

 

Though prospects appear promising, hurdles remain. With licenses for four sites reportedly nearly confirmed, here's an atmosphere of anticipation mixed with scepticism. As this proposal inches closer to reality, it faces staunch opposition from varied sectors resistant to gambling liberalisation. The journey from proposal to praxis involves considerable negotiation, and the bill's success will depend on striking a balance between economic aspirations and social concerns.

 

Thailand's venture into the legalised entertainment complex realm represents a bold step, blending tradition with modernisation. However, any perceived approval of gambling remains restricted strictly within these confines, excluding online or unauthorised venues outside the designated zones. As discussions proceed, eyes will be on the Thai legislature as they navigate this potential economic boon and social conundrum, reported The Pattaya News.

 

Photo: The Pattaya News

 

-- 2024-10-30

 

 

[Gottfrid]

1 hour ago, snoop1130 said:

Touted as a strategy to revitalise the nation’s economy

That´s the only thing they ever think about. They are in for a bumpy ride, as this will affect many people in a very bad way. 

[hotchilli]

12 hours ago, snoop1130 said:

Interest is already cascading in from both domestic and international stakeholders, eager to secure one of the five initial licenses.

I can imagine who they might be.

[NedR69]

Crime, everything from petty crime to major organized crime will do very well in Thailand when casinos open.

[newnative]

Haven't they been 'set' to do this for several years now?  Just get on with it already.  

[fondue zoo]

 

Half chubs and eyes bright with avarice all round.

 

[rovinman]

Banned in Thailand for HOW MANY YEARS  ?

And then, Now it"s OK for the locals to gamble and get Poorer  !

ONLY the House wins !   OH, and the Government who also take a healthy Percentage of the Profits  !
That'"s why Singapore ban the Locals from going in and Gambling  !

Let the Tourists RISK IT ALL  !

Marina Bay Sands paid for itself in just over one year  !

[jingjai9]

I think Thailand has allowed weed and now possibly gambling because they are losing manufacturing jobs and they need revenue. I question how much gambling revenue will stay in the country? How many Thai people have the resources to invest in this kind of game? Will the average Thai citizen be able to apply and be hired for jobs at the entertainment complexes without paying tribute?