In the south-west Asian state of Myanmar, Wednesday reportedly watched the 440-seat House of Representatives pass draft legislation which would legalize the performance of a restricted number of foreigner-only casinos.
Legislation would amend Present prohibition:
According to a report from GGRAsia mentioning a story from English-language news socket, Nordic Media, the proposed Gambling Bill 2018 was filed to the lower chamber late last month and its whole ratification would amend existing statutes contained in the fore-running Gambling Act 1986 which bans the performance of casinos.
Advantageous location:
Long known as Burma until a 1989 title change, Myanmar is a state of some 51 million individuals sandwiched between India, Thailand and China. However, gambling opportunities are rare for the vast majority of taxpayers in those neighboring countries and it is reportedly expected that the introduction of casinos would permit the ‘Land of the Golden Pagodas’ to draw foreign tourists and related tax revenues.
The Myanmar Times earlier reported that it is estimated that the debut of casinos would help Myanmar to bring additional foreign money as the past five years have seen the value of their local kyat currency plummet by nearly 100 percent when compared with the United States dollar.
Institution of a frame:
The source further noted that local legislator Nay Myo Tun told Eleven Media that the successful passage of the Gambling Bill 2018 would create a frame upon which more special regulations may subsequently be inserted. He declared that the measure ‘is not a casino law’ as such legislation ‘has lots of departments. ’
Casinos for ‘boundary ’ places:
Mingaladon Township Representative Aung Hlaing Win told Eleven Media that the government would probably only be willing to let ‘regions with the most foreigners such as near the boundary ’ to feature casinos. As for who might operate these places, Aung Naing Oo, Director General for its state-run Investment and Company Administration Directorate, detailed which many companies like some from Macau had expressed an interest.
