Bangkok Post – Casino law expected to be sent to cabinet this year

PUBLISHED : 24 Oct 2024 at 05:08

Small
Medium
Large

Mr Julapun says the draft law would be the first in Thailand to allow legal casinos. (Photo: 123RF)

The draft law on entertainment complexes is expected to be submitted to the cabinet for consideration this year, according to Deputy Finance Minister Julapun Amornvivat.Mr Julapun said following cabinet approval, the administration will forward the draft law for parliamentary deliberation.
The House of Representatives is set to reconvene for a regular session from mid-December until April next year.
He said the draft law would be the first in Thailand to allow legal casinos.
The draft recently went through a public hearing, as required by the constitution, with 82% supporting the draft.
Mr Julapun said according to a study by the Fiscal Policy Office, the establishment of entertainment complexes in Thailand could attract an additional 5-20% of foreign tourists, increasing spending per visitor to 60,000 baht, from the current 40,000 baht.
The complexes are expected to support the growth of the Thai economy, both during the construction phase, which will require significant investment to build comprehensive entertainment venues, and after their completion.
In addition to attracting tourists, they will also create jobs for local residents.
“I hope as many Thais as possible will be employed in the entertainment complexes, which may require training to ensure they have the necessary skills,” he said.
For private sector investors interested in investing in the complexes, the draft law stipulates a minimum registered capital of 10 billion baht.
Mr Julapun said the government will consider what companies can offer and what types of projects the state wants to develop as man-made tourist attractions.
For Thais wishing to enter a casino, the draft legislation stipulates the entry fee must not exceed 5,000 baht per visit.
The concession period for the complexes offers licences valid for 30 years, renewable in 10-year increments.
The licence fee is set at 5 billion baht, with an annual fee of 1 billion baht.

Source link