PUBLISHED : 13 Jan 2025 at 12:31
Thailand’s cabinet has approved a groundbreaking draft law to legalize gambling and establish casinos, a strategic initiative aimed at enhancing tourism, job creation, and investment opportunities, as announced by Prime Minister Paetongtarn Shinawatra on Monday.
The proposed law, which will be submitted to parliament for consideration, envisions the operation of gambling within large-scale entertainment complexes across the country.
Currently, casinos and most gambling activities are illegal in Thailand; however, underground gaming activities, including soccer betting and lotteries, substantially thrive. Limited gambling, such as state-controlled horse racing and official lotteries, is permitted.
Thailand’s neighbors, including Cambodia, Singapore, and the Philippines, have reaped the economic benefits from extensive casino operations. The Thai government contends that the lack of legal gambling venues results in lost revenue and limits the nation’s tourism potential.
With tourism being a major contributor to Southeast Asia’s second-largest economy, Thailand is projecting record visitor numbers in upcoming years.
According to Ms. Paetongtarn, “Legalization will safeguard the public interest while generating substantial state revenue.”
Previous administrations have attempted to legalize and regulate gambling to bolster the economy but have consistently encountered resistance from conservative factions in the predominantly Buddhist nation.
This latest legislative effort could potentially increase foreign visitor arrivals by 5% to 10% and boost tourism revenue by approximately 120 billion to 220 billion baht, as stated by Deputy Finance Minister Julapun Amornvivat.
It is estimated that the initiative may create between 9,000 to 15,000 new jobs in the sector.
A notable proponent of this gambling legalization effort is former Prime Minister Thaksin, an influential figure within the ruling party and the father of Ms. Paetongtarn.
