A requirement for locals to have $1.5 million in the bank will stay in the draft bill
Thailand has recently reconsidered its approach to proposed restrictions regarding entry to potential casinos in the country. The Ministry of Finance confirmed that it will uphold the requirement for locals to prove they have at least THB50 million (about US$1.5 million) in their bank accounts to access these future gaming establishments. This move follows a recommendation from the nation’s Council of State and aims to maintain a level of exclusivity for casino access.
Deputy Finance Minister Julapun Amornvivat voiced his disagreement with this high financial threshold. He pointed out that only a small fraction of the population—approximately 10,000 people—could meet this bank balance requirement. Instead, he proposed an alternative approach, suggesting that proof of income tax payments for three consecutive years could serve as a more reasonable condition.
Additionally, he proposed that an entry fee of THB5,000 (US$150) be levied on individuals wishing to enter the casinos.
The decision has sparked significant discussion, especially among foreign investors. The THB50 million (US$1.5 million approx) bank balance condition has raised concerns that it could limit interest in the proposed casino developments. With a required investment of THB100 billion (US$2.97 billion) to set up these gaming resorts, many investors were hoping for more inclusive entry criteria to foster a stronger local and international market.
While the proposal will be sent to parliament for further review, it remains uncertain whether lawmakers will align with the government’s vision or make adjustments to accommodate the concerns raised by various stakeholders, including potential foreign investors.
