After cannabis, Thailand all set to legalise gambling

Thailand, known for its vibrant and thriving tourism industry, is all set to make gambling legal in the country. The lawmakers have proposed stricter guidelines and laws before legalising the casinos inside entertainment complexes. Meanwhile, these laws will be stricter to regulate the gambling industry in the country. The draft bill recommends amended guidelines that offer a reformed gambling sector. However, there are concerns that such stricter laws would dissuade the tourists who arrive in the country only from indulging in gambling.

As per a guideline in the draft, casinos shouldn’t take up more than ten per cent of the size of the entertainment complexes. The residents of the locality who visit the casinos should also reveal their identity. These latest recommendations have been published to gather public opinion until March 1. Besides the casinos, the entertainment complex should have at least four kinds of businesses, including hotels, amusement parks and yacht clubs.

The proposed rules
Casinos inside the complexes should have separate gates and entrance areas. The Thai government aims to present the bill this year to attract foreign investments and hike tax rates. Meanwhile, this is a major win for many international gaming companies that have been appealing to legalise casinos that are hotspots for tourism. When the casino industry is fully developed and expanded, Thailand will be the third biggest gambling industry in the world after Macau and Las Vegas.

Reducing the minimum age for entering the casinos to 20 years will not likely affect foreign tourists. Meanwhile, Las Vegas Sands Corp is interested in establishing their casino business in Thailand. Galaxy Entertainment Group Limited and MGM Resorts International are keen to study their scope in Asia. If the casinos become fully functional in the next six years, Thailand will be a major stakeholder in the world's gambling industry.

Cannabis is legal
Thailand is the only Asian country where cannabis has been legalised. Besides, the country also legalised same-sex marriage last month, hoping that LGBTQ couples would now arrive in Thailand to have a grand destination wedding. Meanwhile, protests have been growing in the country against making casinos legal.

The public is worried that the citizens will get addicted to gambling if casinos are legalised. However, the draft has been amended to address this concern and impose restrictions. Thai citizens should submit bank documents of permanent deposits of 1.5 million dollars in the last six months to indulge in gambling in the casinos inside the entertainment complexes. However, foreigners must be just 20 years old to enter the casinos.