The Ministry of Finance has confirmed that it will propose a draft amendment to the Entertainment Complex Bill after the Council of State recommended it include a requirement that only Thais with at least 50 million baht in the bank can enter a casino.
Deputy Finance Minister Julapun Amornvivat said the draft bill the government will propose to parliament will include the amendment suggested by the government’s legal advisory body.
Although the government’s view may differ, Mr Julapun said the cabinet will submit the Council of State’s version to parliament.
Parliament has the authority to make any adjustments as it sees fit, he said.
Mr Julapun said earlier that he disagreed with the clause requiring a hefty bank balance, arguing it does not recognise how many Thais travel to neighbouring countries to gamble.
He said only 10,000 people in Thailand have 50 million baht in a bank account. He proposed instead that Thais wishing to enter a casino must have paid income tax to the Revenue Department for three consecutive years, and pay an entry fee of 5,000 baht per person.
Mr Julapun addressed concerns that operating casinos in Thailand could attract grey and black market businesses, potentially turning Thailand into a money laundering hub.
He said he believes this will not happen, as operations will be regulated at the national level with established standards.
Foreign investors interested in investing in an entertainment complex, which has an investment value exceeding 100 billion baht, will likely not tolerate any illegal activities there, said Mr Julapun.
Many foreign investors in this sector have investments in multiple countries, including the US, Singapore and Japan. If they violate the law, their licences could be revoked in other countries as well, he said.
Investors must operate with the utmost transparency, while the entertainment complex legislation will require a review of investors’ compliance with the law every five years to ensure they are conducting business legally, Mr Julapun noted.
“Opening a casino in Thailand is a flagship policy of the Pheu Thai Party, which formed the government,” he said.
“This policy aims to create man-made destinations, in addition to the promotion of nature-based tourism.”