Thai casino plan wins overwhelming support in public hearing

Thailand’s Plan to Legalize Casinos Gains Support from Public Hearing

Public Backs Plan to Legalize Casinos in Thailand

An overwhelming majority of respondents in a public hearing have backed Thailand’s plan to legalize casinos, with the government signalling it’s open to incorporating suggestions to ease the high entry barrier for locals.

Majority of Respondents Agree with Draft Bill

About 80% of the participants agreed with the overall content of a draft bill to pave the way for casinos to be housed inside large entertainment complexes. More than 70,000 people submitted their opinions and recommendations during the Feb 28 to Mar 14 public hearing held by the Finance Ministry, according to a government statement.

Tourism-Reliant Thailand Eyes Casino Legalization

Tourism-reliant Thailand aims to pass the controversial casino bill this year to attract more foreign investment and lift tax revenue, while also tackling illegal gaming venues. However, the move has been criticized by the opposition and groups fighting to tackle gambling addictions among Thais, saying casinos will largely benefit big businesses and foreign companies.

Global Gaming Companies Eye Thai Market

Global gaming companies, including Galaxy Entertainment Group and MGM Resorts International, have long canvassed for the legalization of casinos in the South-east Asian nation, one of the world’s top tourism destinations. Las Vegas Sands has also expressed interest in expanding to Thailand.

Addressing Public Concerns

To address public concerns that legal casinos would fuel gambling addiction, the Council of State has revised the draft to set limits on the casino area inside an entertainment complex and propose high entry barriers for Thai citizens. A casino will not occupy more than 10% of the total area inside an integrated resort, according to the draft bill. Thais wishing to enter the gaming venues would be required to present bank statements showing fixed deposits of at least 50 million baht (S$2 million) in the previous six consecutive months, while foreigners only need to be at least 20 years old.

Government to Consider Public Feedback

The government will include some recommendations from the respondents into the bill before submitting it to the Cabinet for approval, Deputy Finance Minister Julapun Amornvivat told a conference last week. Once the Cabinet clears it, the bill will be sent to the House of Representatives and the upper house Senate for approval.

Implementation Details

Under the proposed legislation, entertainment complexes would be operated by Thai-registered companies with a paid-up capital of at least 10 billion baht. A license for 30 years will cost five billion baht in the first year and one billion baht for each remaining year. The permit can be extended for up to a decade on each renewal.

Conclusion

The Thai government’s plan to legalize casinos has received significant support from the public, with most respondents endorsing the draft bill. While there are concerns about the potential impact on gambling addiction and the benefits of the move, the government is open to incorporating public feedback to address these concerns.

FAQs

Q: What is the purpose of the casino legalization bill in Thailand?
A: The bill aims to attract more foreign investment and lift tax revenue, while tackling illegal gaming venues.

Q: What is the current stance of the government on the casino bill?
A: The government is open to incorporating public feedback to ease the high entry barrier for locals and address concerns about gambling addiction.

Q: What are the proposed entry barriers for Thai citizens to enter gaming venues?
A: Thais would need to present bank statements showing fixed deposits of at least 50 million baht (S$2 million) in the previous six consecutive months.

Q: How many people submitted their opinions and recommendations during the public hearing?
A: More than 70,000 people submitted their opinions and recommendations during the public hearing held by the Finance Ministry.