A major update to the regulatory framework for Thailand’s casino bill could see the exclusion of the vast majority of Thai nationals from integrated resorts.
Reported by the Bangkok Post, the changes have come as a significant surprise and will have a major impact on the landscape of Thailand’s gambling sector.
One of the key developments is the entry fee that is set to be applied to Thai citizens, charging them US$150 for access to the integrated resorts.
Furthermore, Thai residents would also have to have at least US$1.5m in fixed deposits in order to play at Thailand’s casino venues.
It’ll inevitably lead to venues becoming tourist destinations rather than venues for Thai citizens.
The landmark shift in the bill comes off the back of a meeting between Chinese President Xi Jinping and Thai Prime Minister, Paetongtarn Shinawatra, who took the surprising step to intervene and enquire about the bill being put forward in Thailand.
Shinawatra revealed that Jinping issued stark warnings over the impact of the opening of the casino sector as he urged her to be aware of the social issues that could plague the country as a result of casino regulation.
A rise in crime was central to his warnings as Jinping made his feelings known on Thailand’s progress when it comes to casino regulation.
Whilst gambling is prohibited on mainland China, Macau is seen as the capital for gambling resorts in Asia.
Nonetheless, Shinawatra emphasised that the resorts are for more than just gambling and that a real focus is being placed on ensuring player safety and social responsibility as integral to the bill’s progress.
She added that the bill makes sure that Thailand’s integrated resorts venues aren’t engulfed by gambling and also host restaurants and entertainment.
As well as this, Shinawatra underpinned the need for the regulatory framework, as she told reporters: “We have to admit that some illegal gambling dens are still operating in the country. The money changing hands in those gambling dens does not benefit the country.
“If they are legalised, revenue can be collected from them and used for national development projects.”
However, this motive could appear to be at odds with the latest intervention into the bill though, with it almost all but restricting engagement from Thai players with the integrated resorts.
The major changes to the bill however, should be a silver bullet to stemming the opposition of the bill from the Palang Pracharath Party, which has been in pursuit of a no-confidence bill, that heavily focused on the regulation of gambling.
The opposition party has urged stakeholders to be aware of the increased power that would be granted to the government and the Prime Minister as a result of the new bill.
Opposition Deputy leader, Chaimongkol Chairop, questioned whether the government could find other sources to generate revenue, as the bill’s development would “taint and damage” the country.
