On 13 January, the Thailand cabinet approved a bill that would legalise entertainment complexes with gaming in principle. The measure now heads to parliament.
Prommin Lertsuridej, secretary general to Prime Minister Paetongtarn Shinawatra, says the legislation could become law within seven to nine months. The industry is expected to help rebuild Thailand’s sluggish economy, which has yet to fully recover from the Covid-19 pandemic.
If the bill passes, lawmakers plan to fast-track development of the complexes, which could open as early as 2029. That would give Thailand a leg up on Japan, which expects to open its first casino resort, MGM Osaka, in 2030.
Tourism booster
A 2023 government study found that entertainment complexes could boost tourism revenue by THB406.6 billion (£9 billion/€10.87 billion/$12 billion) in the first year. They could also create up to 20,000 new jobs.
Five casinos are expected to be licensed: two in Bangkok; one each in Chiang Mai and Phuket; and one in the Eastern Economic Corridor (Chachoengsao, Chonburi and Rayong provinces).
According to the Bangkok Post, Prommin says seven global operators have expressed interest in a Thai casino licence. Macau concessionaire Melco Resorts and Entertainment has declared itself, announcing it will open a Bangkok office.
Two other Macau operators, MGM Resorts and Galaxy Entertainment Group, are looking at the market, as is Malaysia’s Genting Berhad.
The opposing view
Thailand’s Council of State opposes passage of the Entertainment Complex bill. Council members are concerned that the draft focuses on gaming at the expense of broader-based tourism attractions.
Thailand’s Stop Gambling Foundation (SGF) calls the bill a watered-down version of the “Singapore model” that originally inspired it. Singapore’s two integrated resorts feature deluxe appointments such as five-star hotels, theme parks, concert venues, restaurants and retail.
Additionally, the SGF gripes that the bill offers scant details about non-gaming attractions, problem-gambling resources and taxation.
Online gaming on the table
Reuters reports that political bigwigs including Thaksin Shinawatra want to sweeten the pot with online gaming.
The former prime minister (and father of the sitting PM) says igaming is already widespread. Some “Two million to four million Thai users (lose) about 500 billion baht per year,” he said after Monday’s session. “If we can tax 20%… we would get more than 100 billion baht per year.”
Yahoo Finance called a possible online component “the cherry on top”.
Original article: https://igamingbusiness.com/casino/thailand-cabinet-oks-casino-bill/
