Thailand is forging ahead with its strategy for the creation of a legal gambling industry with the release of a draft casino bill. The 22-page document, published by the Council of State, was open for public feedback until the 18th of August 2024. This development marks a pivotal moment in the country’s plans to establish legal gaming venues, with the first expected to open in 2027.
Several prominent global businesses have already shown interest in entering Thailand’s emerging market. If the proposal is approved, it could bring substantial economic, social, and reputational rewards to the state.
According to the project, gaming establishments will be part of larger entertainment complexes, projected to contribute $5.14 billion annually to Thailand’s economy. The anticipated revenue could represent around 1% of the nation’s GDP, as per Maybank Securities’ report.
Potential amusement venues will be located in:
Each venue must host at least four other entertainment businesses, such as resorts, amusement parks, beaches, or convention centres, to qualify for a gambling licence.
Additionally, all casinos must be situated within 100 km of an airport and operated by Thai-registered entities with a minimum paid-up fund of $283 million. This strategic placement aims to boost accessibility and attract international visitors.
Thailand is set to establish a regulatory body to manage its emerging casino industry. This new authority will be based in Bangkok and will operate under the close scrutiny of a policy committee headed by the Prime Minister. The creation of this regulatory body is a pivotal step towards ensuring the success and sustainability of the nation’s casino sector.
The proposed committee will be responsible for:
The commission will oversee the establishment and management of amusement hubs, ensuring operators have key policies formed and implemented. The panel will decide on taxes, permit issuance, entry levels, employment criteria, casino floor parameters, etc.
Operators can secure a 30-year licence with an option for a decade renewal, aimed at attracting major international players to invest in Thailand's burgeoning gambling sector.
The bill proposes a 17% fee on Gross Gaming Revenue (GGR).
Additional costs include:
Approval of the law will bring such advantages to Thailand as:
Leading worldwide casino owners are keenly observing Thailand's progress and are eager to enter the market.
Notable companies include:
These companies are actively engaging with Thai authorities to explore investment prospects and understand the local market dynamics in preparation for the 2027 debut.
The draft bill will now proceed to the Thai parliament for review. It may undergo revisions before receiving final approval. The policy committee will be responsible for overseeing the bill’s implementation, ensuring that the new regulations are effectively enforced and that the casino industry integrates smoothly into Thailand’s economy.
The country's gambling market is poised to rival other major tourist hotspots like Japan and the UAE, further solidifying its position as a key player in the global gaming niche. This development is expected to attract significant foreign investors and further bolster Thailand’s economic growth.
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