Thailand Cabinet Approves Casino Bill, Paving Way for Parliament Vote
Thailand's Cabinet has approved draft legislation for casino resorts, marking a significant step toward legalizing gambling in the kingdom. The bill proposes authorizing entertainment complexes in four major cities: Bangkok, Pattaya, Phuket, and Chiang Mai.
Thai politician speaking at microphone
Prime Minister Paetongtarn Shinawatra's government projects these developments will boost tourism by 5-10% and increase tourism spending from 120 billion baht to 220 billion baht ($3.45 billion to $6.32 billion). The initiative aims to generate new revenue streams and combat illegal gambling operations.
The proposed casino market, once mature, could generate approximately $9.1 billion in annual gross gaming revenue, with a 17% tax rate potentially yielding $1.5 billion in yearly tax revenue. The projects are expected to create between 9,000 and 15,000 jobs.
However, the Council of State, Thailand's legal advisory body, has expressed concerns about the bill. They argue it may conflict with traditional values and question whether it sufficiently addresses illegal gambling. The Council recommends including specific requirements for complementary amenities such as hotels, convention facilities, and retail spaces.
Tourism, which previously contributed nearly 20% to Thailand's GDP, was severely impacted by the COVID-19 pandemic. As Thailand's ninth-largest economy in Asia, with a GDP of approximately US$520 billion, the government sees casino development as a crucial step toward economic recovery and growth.
The bill will proceed to Parliament following the Council of State's review, where it faces both support and opposition. The Pheu Thai Party maintains control of Parliament, potentially smoothing the path for the legislation's passage.