Thailand has proposed tough entry requirements for local punters in casinos as it plans to build a major gaming industry to boost tourism, a new draft regulation released on Feb 17 showed, which could dent investor interest.
Thai nationals must have at least 50 million baht (S$2 million) in fixed deposits for at least six months to be able to enter casinos, according to the draft issued by the Office of the Council of State, which governments consult on legal issues, policy and appointments.
Another restriction is that the casino area can occupy only up to 10 per cent of the entire complex space, the draft showed.
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The requirements, which include an entry fee capped at 5,000 baht, will effectively block large swathes of the population in a country where per capita gross domestic product is about 246,000 baht, according to government data.
Most forms of gambling are illegal in Thailand but illicit betting is rife. Domestic casino players are seen as an important draw for foreign investors, who are closely watching details of the draft law, analyst say.
A Citi report in 2024 estimated that half of people age 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.
An entry fee as high as 5,000 baht would restrict casino access to wealthier Thai individuals, said Mr Daniel Cheng, a gaming consultant based in Singapore.
Source: Reuters
