Last week Myanmar politicians passed the draft legislation that would legalize the operation of a limited number of foreigner-only casinos. submitted to the lower parliamentary chamber it would amend existing statutes contained in the fore-running Gambling Act 1986 that bans the operation of casinos.
It is hoped that the debut of casinos would help Myanmar to attract additional foreign cash as the past five years have seen the value of the local kyat currency plummet by almost 100% when compared with the United States dollar.
However, there is a lot of work to do because if the Gambling Bill 2018 pass the government must start working on a framework with more specific regulations. The government would also be willing to allow only ‘areas with the most foreigners such as near the border’ to feature casinos.
And Already several firms including some from Macau had already expressed an interest, to develop this venue in the country of more than 51 million habitants.
