By Amarin TV and Reuters – published by Yahoo!News
AFTER the cabinet approved a draft law on setting up entertainment complexes which will also have casinos earlier today (March 27) Deputy Finance Minister Julapun Amornvivat said new investment will be approximately 100 billion baht with this generating significant economic results, Amarin TV said this evening (March 27).
Once these complexes are built they are expected to generate more than 12 billion baht a year revenue while also creating more jobs,. The mega project will boost tourism with annual foreign arrivals expected to rise by 5% to 10%.
This project is of great value and it is not just about casinos, he said, but that other countries are also introducing large-scale entertainment venues, such as the ones coming up at Dubai in the United Arab Emirates and Osaka in Japan, with this being a model that foreign countries accept.
Thailand has to have more tourist attractions particularly a large indoor stadium with Prime Minister Paetongtarn Shinawatra wanting to invite Taylor Swift and Lady Gaga to perform here but could not do so because there is not enough space.
The draft bill has now gone to the Parliament with both the House of Representatives and the Senate expected to make some positive amendments and it is hoped that it will be passed within this parliamentary session as it has been marked as urgent, he added.
The latest draft approved by cabinet will significantly limit how many Thai punters can go to casinos, with an entry fee of 5,000 baht and proof of at least 50 million baht in bank deposits ($1.47 million), effectively blocking large swathes of the population, where per capita gross domestic product is about 247,327 baht ($7,300).
Julapun had earlier this month said the assets requirement for Thai nationals would be dropped because it would exclude too many people.
Another restriction is that the casino area may only occupy up to 10% of the entire space of an entertainment complex, according to a government statement.
Prime Minister Paetongtarn told reporters the details of the law were not final as parliament would have the final say.
A Citi report late last year estimated that about half of people aged 20 and more in Thailand could be casino players, providing a base for the country to potentially become the world’s third-largest gambling destination.
CAPTION:
Gambling at a casino. Above image by Donna Lenk from Pixabay, Front page image by Aiden Howe on Unsplash
Also read: Stop Gambling Foundation gathering 50,000 signatures to dump casinos
Draft Entertainment Complex act states casinos to cover maximum 10% of the zone
Frenchman wanted in killing of prison guards arrested in Phuket
Graft-busters uncover ticket scam at Similan National Park
Paetongtarn smoothly survives censure motion
Paetongtarn dismisses Thaksin’s ‘deal with the Devil’
