Thailand Narrows List of Possible Casino Sites
Thailand has identified four major locations as potential sites for its first casino resorts, according to a special committee involved in the selection process. The Bangkok Post reports that Bangkok, Chon Buri, Chiang Mai and Phuket have been highlighted as the primary provinces to host these entertainment complexes, which would include casino facilities.
LISTEN TO THIS ARTICLE:The proposal remains subject to legislative approval, as the necessary bill to legalize casino gaming in the country has yet to be finalized. However, Nikom Boonwiset, vice-chairman of the committee and a member of the Pheu Thai Party, indicated that an estimated THB500 billion (US$14.84 billion) in total investment would be required to establish the proposed entertainment complexes.
These venues are expected to become major economic drivers, attracting at least 50 million visitors annually and generating approximately 40,000 jobs. The initiative has already drawn interest from several international casino operators keen on investing in the Thai market.
The country's Prime Minister, Paetongtarn Shinawatra, recently addressed the status of the Entertainment Complex Bill, stating that the government would not rush its deliberation. The bill, which serves as the legal framework for hosting casino resorts, is undergoing thorough examination, with the administration considering input from various stakeholders. The Prime Minister emphasized the importance of a careful review of the bill and its related regulations before further progress is made, as Thailand has never had legalized casino operations before.
Despite the potential economic benefits, the proposal has faced resistance from certain groups. Protests have taken place outside the Ministry of Finance in Bangkok, where demonstrators expressed their opposition to the bill. Some groups have also submitted letters of objection to the Government House, where the Thai cabinet meets. Concerns have been raised about the social impact of casino gaming, prompting calls for greater scrutiny of the bill's provisions.
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Regulatory Questions Remain
Thailand's cabinet had initially approved the entertainment complex bill in principle on January 13. Following this, the Council of State, a legal advisory body, conducted a review of the draft and recommended several amendments. One of the notable revisions includes the introduction of a THB50-million bank deposit requirement for Thai citizens wishing to participate in casino gambling, a measure aimed at ensuring financial responsibility among local gamblers.
The original version of the bill proposed casino licenses with an initial validity of 30 years, with an option for a 10-year renewal. It also stipulated that each casino resort must involve a minimum investment of THB100 billion.
Additionally, the bill specified that the entertainment complexes would not be limited to gaming operations. They would also include hotels, conference centers, and tourist attractions, positioning them as multi-purpose destinations to boost the country's tourism and hospitality industries.
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