Thailand has continued with the development of its legislation for a casino bill as it was put back to the public for feedback.
The plans are seeking to significantly elevate tourism in the region as the bill enables significant growth of entertainment venues, which fall under the regulatory umbrella of a newly formed body.
Thailand’s bid to tap into the casino sector to boost its status as a tourist hotspot follows a global trend with the UAE and Japan also evolving regulations to look to the sector for growth.
Notably, Japan has eyed new regulation for the ability for its casino sector to thrive, with both South East Asian countries in something of a race for regulatory realisation.
It is widely anticipated that Thailand’s debut casino could open as soon as 2029, as the path to a regulatory framework continues to accelerate.
The plans are a key part of the agenda of Prime Minister Srettha Thavisin, who has made it a key ambition to boost tourism in the region and sees the gambling sector as a fruitful route to achieving these goals.
Furthermore, the lucrative plans already have the backing of the country’s wider governance as it was propped up by studies that revealed just how significant the financial uplift could be for the Thai economy.
It was also revealed in the bill that the headquarters of the regulator will be in Bangkok, however the possibility for expansion hasn’t been ruled out.
The progress in Thailand has inevitably spiked the interest of operators with a strong footprint in the region, as Sin Chew Daily recently reported that Genting’s Malaysia-facing brand is eyeing Thailand as a potential venture for the firm.
Bidding processes for the casinos are also set to be completed this year, which will also be required to go through regulatory sign off procedures.
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