On Thursday, Thailand’s cabinet gave the green light to a draft legislation aimed at establishing casinos and entertainment complexes, according to a government spokesperson.
This initiative marks a significant step towards creating a robust gaming industry in the country. The proposed legislation is set to be presented to Parliament in July. If it clears this hurdle, it will require the Senate’s endorsement and the king’s ratification to become law.
The entertainment complex is expected to serve as a man-made destination through diverse experiences and activities, such as water parks, amusement parks, shopping malls, concerts, festivals, exhibition, conferences, and world-class sporting events. In similar complexes elsewhere, casinos typically account for up to 10 percent of the business. The project would stimulate the economy and generate income for the Government and employment for the people.
Earlier this year, the Ministry of Finance outlined that, if the Entertainment Complex Law is passed, a number of benefits would be created:
- 5-10% more tourists arrive annually, spending from US$1,296 to US$1,945 per person;
- Increase tourism revenue from $3.5 billion to $7 billion;
- Create 9,000-15,300 new jobs;
- Bring in over $2.9 billion in investment;
- Earn from $354 million to $1.1 billion in government revenue annually.
