Thailand Eyes Casino Gambling to Attract More Visitors – Travel And Tour World

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Thailand is progressing with its plans to legalize casinos, aiming to enhance the country’s appeal as a tourism hotspot and attract billions of dollars in foreign investment and tax revenue.

The Council of State, the government’s legal agency, has released draft rules allowing casinos with an initial license for 30 years. These rules are open for public feedback until August 18. The licenses can be renewed for an additional 10 years, and the casinos will be part of large entertainment complexes that include hotels, convention centers, and amusement parks.

Thailand is joining the United Arab Emirates and Japan in competing for a share of the global casino industry, which IBIS World estimated generated $263 billion in revenue last year. Companies like Galaxy Entertainment Group Ltd. and MGM Resorts International are exploring opportunities to open casino resorts in Thailand as a hedge against uncertain prospects in Macau. Las Vegas Sands Corp. also expressed interest in expanding to Thailand if it becomes available.

Prime Minister Srettha Thavisin, in power for less than a year, has been actively promoting policies to attract foreign investments to Thailand. He supports the plan to legalize casinos to ensure better oversight and proper tax collection.

The country’s 500-member House of Representatives has already backed a study by a panel of lawmakers that favored setting up legalized casinos within large entertainment venues to attract high-spending tourists. The study found that legalizing casinos could boost tourism revenue by about $12 billion.

Key Points on Thai Casinos:

• Draft Bill Details: The proposed bill includes 30-year licenses, with a minimum capital requirement of 10 billion baht ($283 million).
• Locations: Potential locations for the entertainment complexes include Greater Bangkok, Phuket, Chiang Mai, and Chonburi, home to the beach resort Pattaya.
• Economic Impact: Tourism accounts for about 20% of Thailand’s total jobs and roughly 12% of the nation’s $500 billion economy. Foreign arrivals this year through July have increased by about 34% to more than 20 million compared to the same period in 2023.