Thailand to Allow Private Companies to Open First Casino Resorts
Amornvivat's comments came in response to calls from several parliament members urging the government to take direct control of the initial gambling establishments in Thailand. The deputy minister emphasized that while the casino resorts will be open to all, authorities must establish clear regulations to govern the industry. "We need to carefully assess the project to prevent any negative impact on the economy and society," Amornvivat remarked.
The politician also highlighted the issue of taxation within the gambling industry. Currently, Thailand operates under the Law on State Fiscal and Financial Discipline, which stipulates that tax collection is the responsibility of the Customs, Revenue, and Excise Departments of the Ministry of Finance. Therefore, this task cannot be assigned to a separate committee, contrary to previous proposals from the House of Representatives.
Earlier reports indicated that the proposed integrated resort bill includes a tax rate of 17% on gambling revenues. Additionally, each facility must feature at least four entertainment options beyond the casino itself. Possible options include restaurants, parks, department stores, hotels, and areas promoting Thai culture.
In April, analysts from Maybank Securities released a forecast suggesting that casino complexes could generate approximately 187 billion Thai baht (about $5.4 billion) in annual revenue, equivalent to 1% of the country's GDP.
It is worth noting that Thailand is one step closer to legalizing casinos following recent public hearings.
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