For or against? Casino bill goes for approval at the Thai cabinet

Cabinet meetings are typically held every Tuesday, but the parliamentary censure debate took place on Tuesday, with a vote on Wednesday, pushing the cabinet meeting back.

The Ministry of Finance will present the draft bill but whether it is placed on the cabinet’s agenda will depend on the prime minister, Deputy Finance Minister Julapun Amornvivat said on Wednesday. He said building and running entertainment complexes is expected to support the country’s economic growth and generate higher revenue from tourism.

The ministry said on Tuesday that 80% of respondents to an online public hearing expressed support for the bill, Bloomberg reported. More than 70,000 people submitted opinions and recommendations during the hearing period from Feb 28 to March 14, according to a government statement.

The results are at odds with a recent public opinion poll, which showed a majority of people worry about the negative effects of legalised gambling.

Tourism-reliant Thailand aims to pass the controversial casino bill this year to attract more foreign investment and lift tax revenue, while also tackling illegal gaming.

But the move has been criticised by the opposition and groups fighting to tackle gambling addiction. They say casinos will largely benefit big businesses and foreign companies.

The People’s Party pointed out during this week’s parliamentary censure debate that legalising casinos was never included in the Pheu Thai Party’s campaign pledges.

The policy could also put the Thai tourism sector at risk if China discourages its citizens from visiting Thailand as a result of legalised gambling, the party said.

Mr Julapun said the Ministry of Finance prepared the draft for inclusion in the cabinet agenda last week after circulating it for feedback from related agencies.

He said all of the relevant agencies surveyed about the draft law expressed support, stating the project should help lift Thai economic growth.

If the draft law is discussed and approved on Thursday, the government will then present it for consideration to the House of Representatives, said Mr Julapun.

The purpose of the entertainment complex bill is to promote and regulate the development of integrated entertainment businesses that meet standards, support sustainable tourism, and encourage investment in the country, according to the ministry. (Story continues below)

More power for market regulator

In another development, Mr Julapun said the ministry would propose a draft amendment to the emergency decree, granting additional powers to the Securities and Exchange Commission (SEC) to oversee investments in the stock market.

Under the proposed amendment, the SEC would have expanded authority to investigate and conduct inquiries, as well as to file charges with public prosecutors against market rulebreakers, which expands the scope of its current powers.

If the law is enacted, it should significantly reduce the time required for legal proceedings, particularly in high-impact cases, helping to limit the damage to investors by expediting legal actions, according to the ministry.

By Wichit Chantanusornsiri and News Agencies