The Bangkok Post has spoken with persons close to the topic, who have highlighted the next phases of casino legalization in the country.
According to local media reports quoting sources close to the situation, the future of the Entertainment Complex Bill, a draft piece of legislation that was adopted in principle on January 13, will now be further discussed by the Council of State.
Thai Legal Watchdog to Debate Casino Resorts for 50 Days
The Council of State, an advisory body responsible with studying and providing feedback on pending laws, would now have 50 days to consider the new law. The matter has been given urgency and precedence over other unresolved reviews, with the Council of State anticipated to issue an opinion that might assist clear the way for the project.
The projected Las Vegas-style casino resorts (locally known as entertainment complexes) are intended to stimulate local tourism, combat illicit gambling, and otherwise shore up faltering finances.
The Council of State, however, functions independently of the government and cabinet and frequently disagrees with parliamentarians, despite its role as a vital guardian of the country’s legislative structure.
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The Council of State has already voiced concerns, according to The Nation and the Bangkok Post, two local media groups that have closely followed and covered the subject.
The resistance, however, is not so much against the notion of hosting an entertainment complex as it is to the ambiguous terminology used to define what such a complex may be.
Another problem raised by the council is that the current legislation provides little information about how illicit gambling will be tackled in the nation, which should be included in any gaming expansion regulation in some form or another.
Thailand’s Finance Ministry predicts that legalizing such resorts will generate up to $13.7 billion in additional tourism income each year, making it a critical economic priority for the government to implement.
Thailand expects casino resorts will have a significant impact on the local economy
Aside from their operations, casinos will generate extra economic value through their direct and indirect effect on supply chains. According to current currency rates, a new casino resort may cost up to $3 billion.
Thailand is also concerned about the introduction of a broader gaming framework, which would attract more illicit operators and syndicates looking to exploit regulatory flaws. In the interim, if licenses come, they will be valid for 30 years, with the opportunity to renew for an additional 10 years.
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