The Anti-Gambling Foundation points out that Thailand's Entertainment Complex Act focuses more on casinos rather than clearly stating how the nation will benefit from it.
The bill will be submitted to the cabinet by the Ministry of Finance next month. Thanakorn Komkrit, the secretary-general of the foundation, stated that the details of the bill are vastly different from the initial plans, deviating from the Singapore model. Promised facilities like luxury hotels and shopping centers have been significantly reduced, with the focus almost entirely shifted to casinos.
The bill eliminates important elements such as convention halls and concert venues, and vague regulations may lead to inconsistent policy implementation. The entrance fee for Thai citizens is capped at 5,000 Thai Baht per person, and critics believe that this fee might be reduced or completely waived in the future, making casinos more accessible. The lack of a dedicated regulatory body and funds to mitigate gambling-related harms also raises concerns.
Thanakorn emphasized that the bill does not clearly state how taxes will be levied on related commercial activities. The bill grants a policy committee, chaired by the Prime Minister, extensive powers to decide on the location of the complexes, license holders, and tax rates without needing public opinion. This could favor investors, subject them to low tax rates, and allow them to hold licenses for up to 30 years and lease land for up to 99 years.
Despite these concerns, Julapun Amornvivat, the Deputy Minister of Finance, believes that the bill could be a game-changer for the economy.
He mentioned that the project could generate significant revenue during the investment and operational phases, with the GDP potentially increasing by 0.2% during the investment period and by at least 0.7% once the project starts.
The bill outlines a framework for integrated facilities including shopping centers, hotels, sports arenas, and theme parks, but the focus remains on casinos, with a 30-year license fee of 5 billion Thai Baht, plus an annual fee of 1 billion Thai Baht.
The Ministry of Finance estimates that each complex's investment will exceed 100 billion Thai Baht, generating annual revenues of 40 to 50 billion Thai Baht.
