Thailand moves forward with casino plan after public backing??

Jenny Ortiz September 9, 2024

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Thailand moves forward with casino plan after public backing??

Thailand’s government has confirmed its commitment to proceed with plans to introduce casinos after gaining public support. A public hearing revealed that 80 percent of participants approved developing a large entertainment complex including a casino. Currently, most forms of gambling are illegal in Thailand, with limited exceptions such as state-controlled lotteries and horse racing.??

The push for legalised gambling

Several Thai governments have attempted to legalise gambling over the years to boost employment, state revenues, and tourism, but faced resistance from conservative groups in the predominantly Buddhist nation. One of the earliest advocates for gambling legalisation was Thaksin Shinawatra, former prime minister and father of newly appointed Prime Minister Paetongtarn Shinawatra, who has also thrown her support behind the project.

Casino projects gain political momentum

Despite the political changes in Thailand, including the recent removal of Srettha Thavisin as prime minister, the casino plan remains on track. The bill proposes the creation of a broader entertainment complex, which would allow for the legalisation of casinos. This move follows the examples set by neighbouring countries, such as Cambodia, the Philippines, and Singapore, which have already integrated casinos into their tourism strategies, attracting visitors from countries like China.??

Potential for economic growth and tourism boost

Experts predict that the Thai casino market could generate more than $15 billion annually, making it one of the largest gambling markets globally, rivalling Macau and Singapore. To kick-start this initiative, speculation suggests that the government may issue five casino licences across key locations, including Bangkok, Chiang Mai, and Phuket, with a 30-year term for each licence.

If the government sets a 17 percent tax on gross gaming revenue, like Singapore, the country’s casino market could become an attractive prospect for global gaming operators like Las Vegas Sands and MGM Resorts. This would enhance Thailand’s appeal to high-end tourists and provide a significant boost to its economy.?

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