Thailand proposes tough safeguards for local gamblers in casino plan

BANGKOK – Thailand has proposed tough entry requirements for local punters in casinos as it plans to build a major gaming industry to boost tourism, a new draft regulation released on Feb 17 showed, which could dent investor interest. 

Thai nationals must have at least 50 million baht (S$2 million) in fixed deposits for at least six months to be able to enter casinos, according to the draft issued by the Office of the Council of State, which governments consult on legal issues, policy and appointments.

Another restriction is that the casino area can occupy only up to 10 per cent of the entire complex space, the draft showed.

The requirements, which include an entry fee capped at 5,000 baht, will effectively block large swathes of the population in a country where per capita gross domestic product is about 246,000 baht, according to government data.

Most forms of gambling are illegal in Thailand but illicit betting is rife. Domestic casino players are seen as an important draw for foreign investors, who are closely watching details of the draft law, analyst say. 

A Citi report in 2024 estimated that half of people age 20 and more in Thailand could be casino players, providing a base for the country to potentially become the world's third-largest gambling destination.

An entry fee as high as 5,000 baht would restrict casino access to wealthier Thai individuals, said Mr Daniel Cheng, a gaming consultant based in Singapore.

“A further 50 million baht bank deposit requirement would render Thai casinos no better than foreigner-only regimes like South Korea’s,” he said.

Fresh public hearings for the new draft law were to be held between Feb 15 and March 1. After their conclusion, the draft law must be approved by Cabinet before being sent to Parliament for deliberation.

Thailand allows gambling in state-controlled horse racing, the lottery and betting on some sports, such as boxing.      

Several countries in South-east Asia have legalised casinos, but only a few, like Singapore, have been successful in drawing

global giants such as Las Vegas Sands Corp

on the back of robust regulations.    

The Thai government, led by the populist Pheu Thai party,

hopes to attract at least 100 billion baht in new investment

, for an annual boost to foreign arrivals by 5 per cent to 10 per cent and generate revenue of more than 12 billion baht a year.

Tourism is a key driver of South-east Asia's second-largest economy. In 2025, the government expects to draw 38 million foreign arrivals, closing in on its pre-pandemic record of nearly 40 million tourists.

But an opinion poll in January found that

most Thais oppose the casino plan

and some political parties argue that building a gambling industry would worsen social problems. REUTERS