In a bold move to reshape Thailand’s entertainment and tourism landscape, the parliamentary casino committee has finalized a draft bill proposing a 17 per cent tax on casino operations. This initiative marks a significant stride towards legalizing casinos within the nation, aiming to establish a robust framework for integrated entertainment complexes that blend gaming with various leisure activities.

The proposed legislation is poised to be presented to the House of Representatives and is expected to receive strong bipartisan support. Upon parliamentary approval, the bill will advance to the Cabinet, where it is anticipated to pass without hurdles, aligning with Prime Minister Srettha Thavisin’s economic vision. The prime minister’s strategy focuses on enhancing tourism and domestic consumption, which are pivotal to Thailand’s economic pillars.

Financial projections suggest that Thai nationals will contribute to three-quarters of the expenditure in the potential 5 to 8 entertainment complexes planned across the kingdom. The private sector stands to gain significantly from the proposed casino tax rate, which is competitive with Singapore’s tax regime and more favourable than those of the Philippines and Japan. This tax framework reflects the government’s commitment to fostering an investment-friendly environment and attracting foreign capital.

Prime Minister Thavisin (pictured above), has demonstrated a particular interest in tourism, introducing visa-free travel policies that have already increased visitor numbers from China, India, and Russia.?Further visa exemptions are expected for European nations within the Schengen area, among other regions².?The government’s emphasis on major infrastructural projects, particularly in transportation and logistics, complements the vision for mega-resorts, ensuring their success through excellent connectivity.

Parliamentary Committee proposed casino tax

The draft bill builds upon prior recommendations, establishing a clear regulatory structure while prioritizing social concerns related to gambling. Key provisions include stringent bidder requirements, such as a minimum paid-up capital of 10 billion baht for Thai-registered companies and a 20-year initial license period, promoting investment stability. The legislation outlines four tiers of development investment, with the initial offerings targeting large-scale projects requiring a minimum investment of 100 billion baht.

The “Comprehensive Entertainment Facilities Act” encompasses 10 sections and 68 subsections, detailing the organizational structure of the industry, licensing prerequisites, social safeguard measures, and the components of a Thai entertainment complex. The act’s primary objectives are to combat illegal gambling and bolster the national economy through increased tourism and tax revenues. It establishes two key committees: the Policy Committee, led by the Prime Minister, and the Management Committee, responsible for oversight and managing funds for gambling prevention and rehabilitation programs.

As Thailand stands on the cusp of legalizing casinos, the draft bill signifies a transformative step towards economic growth and positions the country as a future leader in Asia’s entertainment industry. With the potential to outpace Japan in opening the next multi-billion dollar casino resort, Thailand’s casino legalization efforts could herald a new era of prosperity and global appeal.

Corporate News

Boxxer and Betfred join forces to elevate boxing promotions

FDJ expands into payment solutions

Genting faces over €550 million?fraud lawsuit in the US??

Asia

Vietnam cracks down on $72 million illegal gambling ring

SiGMA partners with PAGCOR for second Land-Based Retreat?

Suntrust selects IGT as gaming contractor for Westside City project