Casino royale: Thailand rolls the dice on mega gaming complex
In a bold move worthy of James Bond himself, the Finance Ministry of Thailand is pulling out all the stops to push forward a high-stakes casino-entertainment complex project, with Deputy Finance Minister Julapun Amornvivat at the helm. This ambitious venture is straight out of the Pheu Thai Party-led government’s policy playbook.
But while the ministry’s immediate focus remains on flood recovery in the north, the casino craze is not being shelved. Talks are on the horizon with coalition partners to secure a united thumbs up before they bet big on this glittering initiative.
The casino legalisation bill is already getting rave reviews in the public arena, following the mandatory Section 77 constitutional hearing. Julapun plans to dazzle the Cabinet with the bill later this year while keeping the Pheu Thai Party’s expectations in check. Julapun is clear: This isn’t a sprint but a marathon, set to unfold over several months.
“For this high-roller project to take flight, every stakeholder must join the debate. The bill will face the legislative gauntlet, and what emerges might not resemble the original, as a diverse scrutiny committee will have its say.”
Provinces are yet to be pinpointed for this casino resurgence, but a dedicated committee will scout prime locations as part of a grand tourism strategy. An independent agency is also on standby to analyse job prospects and community impacts.
The Finance Ministry’s bill is a lavish proposal, a policy board, led by the top brass PM himself, will lay down the law for gaming complexes. Getting in the game costs a cool 5 billion baht plus a billion per year for a licence lasting up to 30 years, with renewal available for another decade.
Heavyweight contenders: five venues, including two in bustling Bangkok, one in the Eastern Economic Corridor, and hotspots Chiang Mai and Phuket, are eyeing their hand in the game. Six major players are raring to roll the dice on this glitzy endeavour.
Yet, not everyone is all in. Bhumjaithai leader Anutin Charnvirakul insists the casino caper demands coalition consensus before facing the Cabinet. Back in August, party secretary-general Chaichanok Chidchob questioned whether the bill would tackle illegal gambling and criticised its lack of clarity on job opportunities for Thai workers.
Meanwhile, PM Paetongtarn Shinawatra is slated to huddle with business moguls at Government House today, eyeing a jackpot strategy to turbocharge the economy. Jirayu Houngsab, adviser to the 38 year old PM, let slip that bigwigs like the Thai Chamber of Commerce’s Sanan Angubolkul and FTI’s Kriangkrai Tiannukul will be in attendance.
Jirayu teased that the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) has a glittering proposal to fuel growth and boost competitiveness, covering SME aid and water resource management.
On a brighter note, Narit Therdsteerasukdi of the Board of Investment shared PM Shinawatra’s electrifying commitment to powering up the National Electric Vehicle Policy Committee and cruising towards the zealous Zero Emission Vehicle (ZEV) programme. Now, that’s a ride worth taking!
What Other Media Are Saying
- Tilleke highlights Thailand’s Entertainment Complex Bill, aiming to liberalize casinos and entertainment venues with licensing, investment, and taxation requirements, promising a transformative impact on the country’s entertainment sector. (read more)
- Siam Legal International details the Thai government’s bill to legalize casinos in entertainment complexes, aiming to boost tourism and the economy, with strict regulations and potential opposition concerns. (read more)
Frequently Asked Questions
Here are some common questions asked about this news
Why is Thailand considering legalising casino entertainment complexes now?
To boost tourism and economic growth, while addressing illegal gambling issues.
How might the introduction of casino complexes impact local communities?
It could create jobs and boost the local economy, but also raise social and ethical concerns.
What if the bill fails to gain unanimous support from coalition partners?
The project may face delays or modifications, impacting its potential benefits and implementation timeline.
Why is an independent agency conducting a feasibility study for the casino project?
To ensure unbiased evaluation of economic benefits, job creation potential, and community impacts.
How will the long-term sustainability of the casino complexes be ensured?
Through regular assessments, licence renewals, and adherence to stringent operational regulations.
