Thailand’s Council of State has released a detailed draft of the casino law, aimed at boosting the country’s tourism by US$12 billion. The draft states that casinos are to be part of a larger Entertainment Complex inclusive of MICE area, amusement parks, and other facilities.
The liberalization of the gaming industry is expected to boost Thailand’s tourism revenue by $12 billion, according to studies.
The draft allows for 30 year licenses with another 10 year extensions.
Potential locations to host the Entertainment Complexes include Greater Bangkok, Phuket, Chiang Mai, and Chonburi (Pataya) to be established 100 Km of major airports, and with a paid-up capital of at least $283 million. Thailand will be competing with the emerging market of the UAE and, to some extent, Japan.
Galaxy Entertainment Group, MGM Resorts and Las Vegas Sands are among the operators who have already declared interest in the market.
The tax referred in the draft is the same 17 percent tax on GGR previously signaled.
The draft suggests a “reasonable” entry levy for Thai nationals, much in the same way of the Singapore model.
Next steps wise, after the Cabinet’s approval, the Bill will go for debate and amendment in Parliament.
https://agbrief.com/news/thailand/05/08/2024/thailand-publishes-detailed-22-page-draft-casino-law/
