Thailand to legalize gambling with its first legal casino
Despite gambling's unstable reputation in the Buddhist nation, Thai citizens showed their support for gambling legalization in Thailand.
Thailand is a Southeast Asian...
Thailand releases draft casino law
A new casino law has been drafted by Thailand’s Council of State, aiming at boosting the country’s tourism industry by US$12 billion.
The draft suggests a combination of casinos with large Entertainment Complexes, which will also consist of MICE areas, amusement parks, and other amenities.
Studies show that liberalization of the gaming industry could lead to an increase in Thailand’s tourism revenues by $12 billion. The draft law outlines provisions for 30-year casino licenses, with possible 10-year extensions.
The suggested sites for these Entertainment Complexes are Greater Bangkok, Phuket, Chiang Mai and Chonburi (Pattaya) all located within a range of 100 km from major airports and requiring a minimum paid-up capital of $283 million. Thailand intends to compete with the UAE and Japan markets.
Several travelers have already expressed interest in starting businesses in Thailand including Galaxy Entertainment Group, MGM Resorts and Las Vegas Sands.
A tax of 17 percent on Gross Gaming Revenue (GGR) will be maintained as per the draft while proposing a “reasonable” entry fee for Thai nationals.
If approved by the Cabinet, the law will be taken to Parliament for debate and amendment.
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