Taking the casino punt

Author: Live Casino Direct
Taking the casino punt

Report prepared by House of Representatives committee could prompt legislation needed to bring casinos into reality. House committee has been hard at work for months amid debate over what legal recognition of gambling could spell for society.

The study covers four areas: laws governing collection of revenue and taxes, prevention and mitigation of impacts the complexes will have on residents, forms of investment in complexes and analysis of related gaming activities. The report also addresses how to mitigate the impacts of "entertainment complexes" on various fronts. It recommends a high-level regulatory committee to supervise the complex. Some of the revenue generated from the casinos should be spent for public welfare and benefits. The Eastern Economic Corridor (EEC) is the best place to build the Complexes. EEC is within a 100 km radius of Don Mueang, Suvarnabhumi or U-Tapao airport.

80% of respondents in a university survey supported the complexes. The House committee suggested amending the laws to smoothen the way for the complex and preparing the groundwork for investment. Many residents in Tak, Chiang Rai and Sa Kaeo backed the project. The committee told them the projects would be tied to tourism, meetings and conventions. It is an investment-intensive business that could transform local economies. Investors from China, the Middle East, US and Europe have shown interest in the Complex.

Report on the complex project is watertight. It is estimated that earnings from the complexes would run into the hundreds of billions of baht annually. The complexes could be scattered in Phuket, Phangnga, Pattaya, Bangkok or in provinces close to airports. They would encourage tourists to visit the destinations. Complexes in border provinces would stimulate border trade exchanges. Mr Wisarn believes the project may be put on parliament's agenda by the end of next month. If not, it would enter parliament in November.

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