File photo courtesy: Wikipedia

 

The proposal for Thailand's new Entertainment Complex Bill, up for cabinet review next month, has come under scrutiny from the Stop Gambling Foundation. The watchdog claims the legislation leans heavily towards casino establishments, offering limited insight into potential national benefits, and downplays comprehensive entertainment facilities initially modelled after Singapore's integrated resorts.

 

Secretary-General of the foundation, Thanakorn Komkrit, expressed serious reservations on Saturday regarding the bill's provisions. He notes a departure from the promised array of entertainment options like luxury hotels and shopping centres, with a marked shift towards prioritising casinos.

 

Notably absent from the proposal are attractions such as conference halls and concert venues, which were initially touted to drive diverse revenue streams. This pivot, critics argue, narrows the bill's scope, thus limiting its potential economic impact.

 

Concerns are also raised about the bill's structure, particularly its vague regulatory framework. Such ambiguity risks inconsistencies in policy enforcement. A specific contentious element is the proposed entry fee of 5,000 Thai Baht for Thai citizens to access these casinos. Critics worry this fee might be reduced or even removed, making local gambling more attractive.

Another point of contention is the lack of an independent oversight body or a dedicated fund to address gambling-induced social issues. Thanakorn underscores the bill's opacity concerning tax revenue channels. Without clear guidelines, it's uncertain how Thailand stands to benefit financially.

 

Furthermore, the bill proposes that a policy board led by the prime minister determines complex locations, licences, and tax rates, potentially sidelining public input. Such broad authority could lead to investor-friendly, low-tax incentives that allow licence holders to operate for up to 30 years and lease land for as long as 99 years. There are also fears that lax rules could open doors for money laundering activities.

 

Despite these cautions, Deputy Finance Minister Julapun Amornvivat defends the bill as an economic boon. He argues it could invigorate the nation’s economy, projecting that the construction and operation phases would enhance GDP by 0.2% and 0.7% respectively.

 

The bill anticipates that each entertainment complex will demand investments upwards of 100 billion Thai Baht, potentially generating annual revenues of 40–50 billion Thai Baht. These complexes are intended to offer various attractions, including malls, hotels, sports arenas, and parks, although casinos remain central to the bill.

 

Though viewed by some as a lucrative development opportunity, the ongoing debate highlights the need for clearer benefits for the broader Thai populace and firmer regulatory structures, reported Bangkok Post.

 

-- 2024-12-30

 

 

It's all about money. Isn't that obvious? 

The sin of tax... way to go Thailand. Tony will soon be at the helm to navigate all to riches... ( non-applicable to Farang)  Read the fine print.

And how about brothels?

17 hours ago, webfact said:

He notes a departure from the promised array of entertainment options like luxury hotels and shopping centres, with a marked shift towards prioritising casinos.

Surprise surprise

If Thaksin and his cronies sees a way to incease his billions by having casinos they will come. Not much doubt about it. 

The foundation need not worry.  All they ever do is talk, talk, talk--which they have been doing for years--with likely more ahead.  But, I for one, would like the planned 'entertainment' to be more than 'luxury hotels and shopping centres'.