Former Thai prime minister says casino licences should be awarded through bidding
Thaksin Shinawatra said he is confident a scheme will start next year.
Thailand.- Thaksin Shinawatra, the former prime minister of Thailand, has said that casino licences should only be awarded through a bidding process. According to the Bangkok Post, Shinawatra, the father of the current prime minister Paetongtarn Shinawatra, mentioned the draft bill to legalise casinos at a gathering of supporters in the northeastern province of Nakhon Phanom.
He said bidders would need to show what they could provide in terms of tourism advantages and tax revenue. Shinawatra also dismissed suggestions that coalition parties were against the proposal and downplayed calls for a referendum on casinos, expressing confidence that casino legislation would be enacted this year. A committee would then establish regulations before a launch next year.
The draft bill proposes 30-year casino licences with the option for a 10-year renewal. Complexes would be located in designated areas and operated by companies registered in Thailand with a minimum paid-up capital of THB10bn (US$283m). Casino entry fees for Thai nationals have been set at THB5,000 (US$144). A policy panel led by the prime minister and a regulatory agency would oversee the industry.
According to Shinawatra, each complex would create around 20,000 jobs, with every employee guaranteed a monthly salary of at least 20,000 baht (US$580). Shinawatra said the casino component would be no more than around 10 per cent of the project’s total area.
According to a study by the Fiscal Policy Office (FPO), the establishment of IRs could increase visits to Thailand by 5 to 20 per cent and increase spending per visitor from THB40,000 (US$1,184) to THB60,000 (US$1,776).
