Thailand has officially withdrawn its plan to legalize casino resorts with the “Entertainment Complex Bill,” which aimed to allow regulated casinos as part of large...
Thailand’s new gambling rules set to keep locals out
Thailand is taking another step toward legalizing land-based casinos, with new strict requirements for locals.
In order to gamble, Thai nationals must have at least 50 million baht ($1.5 million) in fixed deposits for six months before they can enter a casino. However, there are just more than 34,000 accounts in Thailand with balances between 25 million and 50 million baht, so the number of people who could meet this requirement is likely much lower. Moreover, those who qualify must pay an entry fee of up to 5,000 baht.
The new rule doesn’t affect only players. Thai casinos would be limited to just 10% of the total space within integrated resorts. The goal is to keep local participation as minimal as possible while attracting foreign investment and boosting tourism.
Some experts believe these strict conditions could damage the investing segment, making the Thai market less appealing. Moreover, experts believe that the new rule will make Thailand look like South Korea, where casinos are solely for foreigners.
Public opposition
A recent poll found that 59% of Thais oppose integrated resorts, and 69% are against online gambling. Critics worry about rising household debt and gambling addiction.
The draft law is open for public hearings until March 1, after which it will need cabinet approval before heading to parliament.
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