Thailand council on casinos: Only millionaires allowed

Thailand lawmakers considering a controversial casino bill have proposed limiting entry to local gamblers with savings of nearly $1.5 million.

To address public concerns about gambling addiction, Thailand lawmakers may limit casino gambling to locals with a minimum of 50 million baht (£1.167 million/€1.4 million/$1.48 million) in the bank. Residents gamblers would also have to pay a 5,000 baht fee for each visit.

According to Statista, in 2023 the average annual income in Thailand was 348,000 baht. The suggested measure, which would restrict entry to all but the wealthiest Thai nationals, would presumably also reduce the risk of problem gambling at home.

But, as gaming analyst Daniel Cheng told the South China Morning Post, it would also create what is, in effect, a “foreigner-only regime like South Korea’s.”

That could tamp down the interest of potential operators who have already signalled their interest in the jurisdiction. The list includes big guns like Galaxy Entertainment, Caesars, Wynn Resorts, Las Vegas Sands and Genting. Melco Resorts & Entertainment has already opened an office in Bangkok.

Council of State defends “strict measures”

The entertainment complex bill was designed to attract foreign investment and draw more international visitors to Thailand. It was approved by the cabinet in January, then sent for review by the Council of State (COS). The government advisory body recommended the steep financial benchmark.

“We don’t want the public to be bogged down by this gambling fanfare,” said COS Secretary-General Pakorn Nilprapunt, as quoted by The Thaiger. “(The entertainment complexes) are man-made tourism attractions. That’s the focus, not the gambling.

“I think if we impose strict measures, we might be able to prevent Thais from entering and becoming gambling addicts.”

Is a tourism boom in sight?

Thailand lawmakers hope entertainment complexes will help rebuild the tourism economy, which has yet to rebound from the Covid-19 pandemic. Last year, reported the Bangkok Post, Thailand dropped from 36th to 47th place in the World Economic Forum tourism rankings. That was a sharper decline than in 2021, when it dropped from 35th to 36th place.

But a new tourism boom may have already begun, influenced in part by “The White Lotus.” Travel agency Fora reports a 312% year-on-year increase in January bookings alone, thanks to fans of the HBO series.

Entertainment complexes could build on the rediscovery of Thailand as a destination. According to one study, five resorts in locations like Bangkok, Chiang Mai and Phuket could boost tourism by an additional 5% to 10%.