Thailand has introduced stringent entry criteria for locals at casinos as part of its strategy to develop a significant gaming sector aimed at enhancing tourism, according to newly released draft regulations on Monday, which may reduce interest from investors.
Under the proposed regulations by the Office of the Council of State, which advises the government on legal, policy, and appointment matters, Thai citizens are required to maintain a minimum of 50 million baht in fixed deposits for six months to gain casino access.
The rules, which also propose an entrance fee limited to 5,000 baht, would exclude a significant portion of the populace, given the country’s per capita GDP is approximately $7,300, according to government statistics.
While most forms of gambling are prohibited in Thailand, underground betting is common. The domestic casino market is considered vital for attracting foreign investments, with analysts keenly observing the details of this draft legislation.
A report by Citi from the previous year suggests that nearly half of the Thai population aged 20 and older could engage in casino gambling, potentially positioning Thailand as the world’s third-largest gambling hub.
Daniel Cheng, a gaming consultant in Singapore, commented that an entrance fee of 5,000 baht would limit casino access predominantly to wealthier Thais.
“A further 50 million baht bank deposit requirement would render Thai casinos no better than foreigner-only regimes like South Korea’s,” he said.
The government will conduct public consultations on this draft legislation between February 15 and March 1. Following these sessions, the draft requires cabinet approval before it can proceed to parliament for further consideration.
Thailand permits gambling on state-regulated horse racing, the lottery, and certain sports like boxing.
While several Southeast Asian countries have legalized casinos, only a few like Singapore, with stringent regulations, have attracted major international firms such as Las Vegas Sands Corp.
With the backing of the populist Pheu Thai party, the Thai government aims to draw at least 100 billion baht in investments, increase foreign visitor numbers by 5% to 10% annually, and generate over 12 billion baht in revenue each year.
The draft also stipulates that the casino area must not exceed 10% of the total complex area.
Tourism significantly contributes to Southeast Asia’s second-largest economy, with the government anticipating 38 million international visitors this year, nearing the pre-pandemic peak of nearly 40 million.
However, a recent opinion poll indicates widespread opposition among Thais to the casino proposal, and some political parties contend that establishing a gambling industry could exacerbate social issues.
