Thailand is moving closer to legalizing casinos, with the release of a draft bill for proposed casino legislation. The draft bill, titled the Complete Entertainment Business Act B.E., was released by Thailand’s Council of State and calls for public feedback by August 18. The bill proposes the creation of a casino regulatory body that will report to a committee chaired by Prime Minister Srettha Thavisin. This body will be responsible for regulating, supervising, controlling, promoting, and supporting integrated entertainment venues in Bangkok.
Thavisin’s committee will also be in charge of setting broader policy, including the issuance of licenses, tax rates, permitted business nature, entry levies and restrictions, employee criteria, and executive criteria. This move towards casino regulation aligns with Prime Minister Thavisin’s goal of launching gaming complexes in the country by 2027.
Thailand’s rapid progress in legalizing casinos contrasts with Japan’s slow and heavy regulatory processes. This has led some to believe that Thailand could become the preferred destination for casino customers who were initially intended for Japan’s first-ever integrated resort in Osaka, expected to open by fall 2030. However, one industry expert has warned that Thailand’s entry into the casino market could harm Japan’s integrated resort plans.
The draft bill also outlines more favorable tax rates and regulations for gambling operators in Thailand compared to Japan. Thai casinos would initially receive a 20-year license, while Japan’s integrated resorts would only be granted a ten-year license. Additionally, the gross gaming revenue tax for Thailand casino operators would be set at 17%, lower than Japan’s 30%.
Thailand’s potential as an Asian casino giant has attracted the attention of US investors, such as MGM Resorts and Las Vegas Sands. LVS CEO Rob Goldstein has expressed interest in Thailand, citing the country’s large population, mass tourism, and easy accessibility. Studies suggest that the legalization of the Thai gaming industry could boost the country’s tourism revenue by $12 billion.
Overall, Thailand’s progress towards legalizing casinos signals a significant shift in the Asian gambling market and has the potential to impact the region’s casino industry landscape.