THAILAND SETS SIGHTS ON CASINO LEGALIZATION
BANGKOK – The Thai government has released a draft bill to legalize casinos in the country, sparking hopes for a boost to the economy and tourism.
The proposed legislation, known as the Complete Entertainment Business Act B.E., outlines the framework for establishing large-scale entertainment complexes that include casinos. The bill envisions the creation of a venue policy panel, chaired by the Prime Minister, which will oversee the development and operation of these complexes.
Under the draft bill, private companies interested in operating casinos must demonstrate significant financial backing, with a minimum paid-up capital requirement set at TBH10 billion (US$285 million). This high threshold aims to ensure that only well-established and financially stable companies are granted licenses to operate in the industry.
The bill also proposes a unique allocation structure for these entertainment complexes, suggesting that any casino resort developments should allocate no more than 5% of the total project area to gaming facilities. The remaining space is to be dedicated to complementary amenities, including hotels, restaurants, and various entertainment offerings.
PHILIPPINES EXPLORES NEW ONLINE GAMING OPPORTUNITIES
MANILA – The Philippine Amusement and Gaming Corporation (Pagcor) is considering the possibility of creating a better version of online gaming, despite the recent ban on Philippine offshore gaming operators (Pogos).
Pagcor’s Chairman and CEO, Al Tengco, has expressed interest in developing an improved version of online gaming, which could potentially benefit the industry and create new job opportunities.
The proposed improved version of online gaming would likely address the issues that led to the Pogos ban, such as the negative impact on the economy and the environment. The new version could also incorporate measures to prevent illegal gambling and ensure fair play for all players.
In addition to developing a better version of online gaming, Pagcor has announced that electronic gaming operators can offer online number games, including lottery, in the country. The new format will allow for minimum bets of PHP5 (approximately USD 0.10) and application fees of PHP200,000 (approximately USD 4,000) for a two-year license.
ASIAN GAMING INDUSTRY SEEKS TO EXPAND HORIZONS
The developments in Thailand and the Philippines highlight the growing importance of online gaming and casinos in the Asian gaming scene. As governments and private entities work together to shape the future of online gaming and casinos, it will be exciting to see how these industries evolve in the years to come.
