Thai PM calls on coalition partners to push benefits of casino bill
Paetongtarn Shinawatra has urged legislators to emphasise the economic benefits of entertainment complexes with casinos.
Thailand.- Prime Minister Paetongtarn Shinawatra has asked coalition partners to plug the potential economic benefits of the bill to legalise casino resorts in Thailand. According to The Nation newspaper, Shinawatra, speaking after a mobile Cabinet meeting in Nakhon Phanom province, said Pheu Thai Party MPs will talk to citizens about the bill to explain its contents.
Noting that similar projects have been implemented in countries such as Japan, she said that legalising entertainment complexes with a casino would attract foreign investment and create jobs, leading to more tax revenue. Shinawatra emphasised that it is up to Parliament to decide if the bill will be approved.
Former Prime Minister Thaksin Shinawatra has said he is confident that the bill will “easily” pass its first reading in the House of Representatives. The bill was expected to be debated in Parliament on April 9, but the debate was postponed due to the issues of US tariffs and last month’s earthquake. It will be reintroduced in the next parliamentary session.
Analysts at Maybank Securities (Thailand) have forecast that casinos in Thailand could generate THB278bn (US$8.39bn) annually in revenue. Approximately THB195bn would be derived from gaming activity, while the remaining 30 per cent is expected to come from non-gaming segments such as accommodation, food and retail.
Analysts said the country’s large tourism base and relatively low proposed tax rate on gross gaming revenue (GGR) position it favourably in the region. They estimate that EBITDA margins for casino resorts could reach between 34 per cent and 49 per cent. That would surpass the performance of Macau and Singapore casinos, where tax rates on mass-market play range from 25 to 40 per cent.
