Officials in Thailand have backtracked on the financial requirements that would have excluded most Thai citizens from its proposed land-based casinos.
Previously, reports suggested that Thai officials would impose a rule that meant Thai citizens needed at least $1.5m in assets to access casinos in the country.
In its place, Thais now need to have filed three years of income tax returns.
As reported by the Bangkok Post, Thailand’s Deputy Finance Minister Julapun Amornivat cited the limited number of Thai nationals that would’ve met the previous stipulations.
He said: “The Ministry has checked the data and found there are only 10,000 Thai accounts with at least [$1.5m]. So, the former requirement would push people to gamble elsewhere, which could be illegal.”
However, underlining the role of the proposed casinos as part of integrated resorts focused on tourists, the $150 fee for Thai citizens to enter the casinos remains as part of the amended legislation.
Gambling bill faces opposition
Thailand’s push to introduce land-based casinos, led by Prime Minister Paetongtarn Shinawatra, has been met with criticism from opposition parties, including the Palang Pracharath Party, who cited the impact of gambling in its no-confidence vote in the government.
Opposition Deputy leader, Chaimongkol Chairop, questioned whether the government could find other sources to generate revenue, as the bill’s development would “taint and damage” the country.
Despite this, Thailand’s government appears to be pushing on with bringing retail gaming to the nation, and there has also been speculation about the possibility of iGaming following the same path.
Former Prime Minister Thaksin Shinawatra, and father of current PM Paetongtarn Shinawatra, previously spoke on the major impact the vertical could have on the growth of the economy – emphasising that a 20% tax “would get more than 100bn per year”.
Additionally, he cited the prevalence of the black market in Thailand and the benefits of transitioning users towards a regulated market that is safer.