Thailand Plans Casino Legalisation – New Jobs and Tourism Boost
Thailand’s government has approved draft legislation that could lead to casinos opening up in the country.
Key Facts:
- Cabinet has opted to move forward with the legalisation of gambling
- Parliament will now decide whether or not to pass the new gambling laws
- Illegal underground betting is very common in many parts of Thailand
- Casinos could boost tourism and create jobs in Thailand.
Although most gambling is illegal in Thailand, the country has a large problem with illegal underground betting, particularly around sports.
With Thailand’s cabinet now having given their assent to the draft law, the next step is for it to be debated by parliament before a final decision over approval is made.
Thailand hopes that legalising casinos can create jobs and boost tourism and investments in the country.
Current State Of Play
Thailand currently has some state-regulated sports betting and an official lottery, but the vast majority of gambling options are not available to people in the country.
But the new draft law – the Integrated Entertainment Business Act, which is also known as the Entertainment Complex Bill – could change things this year.
Prime Minister of Thailand, Paetongtarn Shinawatra, explained the reasoning behind the law.
She said in a statement: “Legalisation will protect the public and would also generate more state revenue.”
More details about the potential financial impact of the plans to legalise gambling were given.
Deputy finance minister Julapun Amornvivat suggested that foreign visitor numbers would increase while tourism revenue could nearly double, from around 120 billion baht to 220 billion baht ($3.45 billion to $6.32 billion).
Opposition Expected
This is not the first time that Thailand has considered legalising betting and gambling.
But critics of the plan have previously been able to scupper the proposals, with Thailand still a Buddhist majority country today.
It remains to be seen whether or not the current Thai government’s plans will be able to come to fruition or whether they will again be rejected.
With a forecast of 9,000 to 15,000 new jobs expected to be created by the move to legalise gambling in Thailand, pressure to give assent is likely.
Paetongtarn’s father, Thailand’s former premier Thaksin Shinawatra, remains an influential figure in the ruling party, and he is among the big names pushing for legalisation.
Under the plans, casinos given the green light to open in Thailand would need to be full-service resorts, similar to those in nearby Singapore. Cambodia, the Philippines and Laos are among other countries in the region to have opened casino complexes.
Just five casino licences would be granted initially, with sites expected to be located in Pattaya, Chiang Mai and Phuket. The other two would be in Bangkok.
