Thailand's Prime Minister Srettha Thavisin supports the new casino bill. (Image: ZUMA Press Inc / Alamy)
Thailand’s Council of State has released a draft for a new casino bill, which focuses on establishment and regulation of physical casinos within integrated entertainment complexes, with no mention of casino sites yet.
The council is inviting public feedback until August 18.
The proposed bill stipulates that casinos can obtain an initial license for 30 years, with an option to renew for an additional 10 years. This framework encourages long-term investment in large entertainment complexes that will feature casinos, hotels, convention centres, and amusement parks. Notably, the bill includes a 17% tax on gaming revenues, establishing a clear tax structure for potential investors.
Prime Minister Backs Legislation of Casinos
Prime Minister Srettha Thavisin and Deputy Prime Minister Somsak Thepsuthin have shown strong support for this initiative, citing the need for better oversight and tax collection.
The House of Representatives, consisting of 500 members, backs the legalisation of casinos as a strategy to enhance tourism revenue, projecting an increase of approximately THB 12 billion (around US$340 million).
Enacted Bill Would Place Thailand Alongside Giants of Casino Market
Should the bill be enacted, Thailand would position itself alongside countries like the UAE and Japan, vying for a share of the burgeoning global casino market. With neighbouring countries such as the Philippines, Vietnam, and Singapore already established players in the region—especially in competition with the global hub of Macau—Thailand offers a fresh and promising opportunity for investors looking to enter the casino sector.
All eyes in the gambling industry have been focussed on the imminent release of the feasibility study on legalising casinos in the country. It comes as no surprise that the industry is looking at expansion opportunities in Thailand already.
Leading gambling companies like Galaxy Entertainment and MGM China have already expressed interest in Thailand.
For investors, the proposed casino bill signals a transformative step in Thailand’s approach to gambling. To delve deeper into the implications of this legislation and its potential impact on the global market, a thorough report is available for further insights.
MGM Has Sights Set on UAE
In addition to its interests in Thailand, MGM Resorts is also looking for opportunities in the United Arab Emirates (UAE), where it's involved in a project that may include casino gaming, depending on regulatory approval. Hornbuckle noted the recent issuance of the UAE’s first lottery license as a positive step for the industry's growth.
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