The suggested requirement that residents have THB50 million (US$1.5 million) in bank deposits in order to enter possible future casinos has been dropped by Thailand’s government. Since only roughly 10,000 bank accounts nationwide met the level, Deputy Finance Minister Julapun Amornvivat agreed that the requirement was overly onerous.
Thai nationals will now need to provide three years’ worth of tax records in order to be admitted to casinos, according to the government. This change, according to officials, will increase access to legal gaming while maintaining financial accountability. The Entertainment Complex Bill, which aims to govern casino resorts in Thailand, originally included the previous THB50 million rule. But the adjustment was brought about by worries about how it will affect the business and illicit gaming.
Balancing Regulation and Economic Growth
Julapun emphasized that the original deposit condition would have hindered Thailand’s casino industry, stating, “More than 70 million people won’t be able to enter casinos.” He further explained that the restrictive requirement could drive gamblers to illegal or overseas markets instead of supporting a regulated domestic industry.
The revised bill maintains a proposed casino entrance fee of THB5,000 for local players. The updated draft, approved by the Finance Ministry and the Council of State, will now be submitted to the Thai cabinet before heading to the National Assembly for final approval. Authorities aim to complete the legislative process before the current session ends on April 11.
The most recent version of the Entertainment Complex Bill was signed by Anutin Charnivirakul, another deputy prime minister and interior minister, according to confirmation from deputy prime minister and finance minister Pichai Chunhavajira. Despite not being on the most current cabinet agenda, the legislation was sent to the cabinet secretariat on February 28.
The legalization of casinos is seen by the Thai government as a major factor in economic expansion. According to officials, the industry has the potential to increase international visitor arrivals by 5% to 10%, draw in at least THB100 billion in new investments, and produce more than THB12 billion in tax income annually.
Thailand is getting closer to allowing legal casino complexes, which might change the country’s gambling and tourism scene, as the regulatory framework is almost finished.
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