Southeast Asia’s second largest economy approves draft law to legalize casinos for tourism boost
Tourists visit Maya bay, Thailand in 2022. Photo by Reuters
The Cabinet of Thailand, Southeast Asia’s second largest economy, has approved a draft law that would legalize gambling and casinos, a move aimed at boosting tourism, jobs and investment, Prime Minister Paetongtarn Shinawatra said Monday.
Under the government’s plan, the law, which will be sent to Parliament for deliberation, would see gambling take place in large-scale entertainment complexes.
Casinos and most forms of gambling are illegal in Thailand but football betting and underground gaming activities and lotteries are rife, with vast sums of money changing hands.
Only some gambling is permitted, such as state-controlled horse races and on an official lottery.
Neighbors, Cambodia, Singapore, the Philippines, Laos and Myanmar have benefited from large casino complexes and Thailand’s government has argued the absence of legal casinos means it is turning its back on revenue and not reaching its tourism potential.
Tourism is a key driver of Thailand, and the country is forecasting record visitor numbers in the next few years.
“Legalization will protect the public and would also generate more state revenue,” Paetongtarn told reporters.
Successive Thai governments have sought to legalize and regulate gambling to boost the economy, but each attempt has faced pushback from conservatives in the Buddhist majority country.
The latest move could see foreign visitor numbers grow 5-10% and tourism revenue increase by about 120 billion baht to 220 billion baht ($3.45 billion to $6.32 billion), said Deputy Finance Minister Julapun Amornvivat.
About 9,000 to 15,000 new jobs would be created, he added.
Comments are closed.