Thailand’s Cabinet Approves Draft Bill to Legalize Casinos To Boost Tourism & Economy

Thailand’s government has recently passed a draft law aimed at legalizing gambling and establishing casinos within the country. Announced by Prime Minister Paetongtarn Shinawatra, this initiative seeks to enhance tourism, create jobs, and stimulate investment through the development of large-scale entertainment complexes.

Currently, gambling in Thailand is mostly prohibited, except for state-controlled horse racing and the official lottery. Despite this, informal gambling activities, such as soccer betting and underground lotteries, are prevalent. Neighboring countries like Cambodia, Singapore, the Philippines, Laos, and Myanmar have already capitalized on the economic benefits of large casino complexes, boosting their tourism sectors significantly.

The Thai government views the legalization of casinos as a strategic move to harness potential revenue that has been overlooked due to stringent gambling laws. This change is expected to protect the public by regulating gambling activities and also to increase state revenue substantially.

Tourism, a vital component of Thailand’s economy, is poised to hit record-high visitor numbers in the coming years. With the legalization of gambling, the Deputy Finance Minister Julapun Amornvivat predicts a surge in foreign visitors by 5% to 10%, potentially increasing tourism revenue by approximately 120 billion baht to 220 billion baht ($3.45 billion to $6.32 billion). Additionally, the new legislation is anticipated to create between 9,000 and 15,000 new jobs.

This push towards legalizing gambling has been a recurring theme in Thai politics, championed by figures like the billionaire former premier Thaksin Shinawatra, who is also the father of the current Prime Minister and a prominent member of the ruling party.

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