Thailand could become the main gambling hub in Southeast Asia

Disclaimer: This article is intended for US audiences.

Thailand could be about to legalize casinos for the first time in a bid to attract more international tourists. Currently, the main gambling hubs in Southeast Asia are the Philippines and Cambodia. However, the emergence of Thai casinos could alter the gambling tourism market of the entire region. 

Thailand’s government is currently devising legislation that would permit the construction of “entertainment complexes” that will boast casinos, hotels, restaurants, convention centers, and entertainment venues. 

Thailand already dominates as the most popular Southeast Asian country in terms of tourism. This is thanks to its beaches, food, and unique cultural heritage. Now, the country wants to attract even more international tourists. In particular, it hopes that the casinos will attract Chinese visitors, given the tight gambling restrictions that remain in place in China. 

This news comes at a transitory time in the Southeast Asian gambling market, as Philippine President Ferdinand Marcos Jr recently announced the shutdown of all offshore casinos. Known as POGOs (Philippine Offshore Gambling Operators), these sites operate within the Philippines and cater mostly to the Chinese market. 

Offshore sites are still available to both Philippine and Chinese gamblers, as well as other Asian markets. Offshore crypto casino sites, like the ones selected by Sergio Zammit, are so popular amongst these markets due to their range of games, private nature, and fast withdrawals. 

Given the widespread appeal of offshore casinos, Thailand has a lot to compete with in terms of gambling offerings. However, experts already estimate that the introduction of Thai casino complexes could boost the country’s tourism revenue by $12 billion. 

The planned casinos would be spread throughout the country’s main tourist hubs. Specifically, there are two planned for Bangkok, one in Chiang Mai, and one in Phuket. There will also likely be one built somewhere in the Eastern Economic Corridor. 

Both tourists and Thai residents will be permitted to enter and gamble at the casino. However, Thai citizens will have to pay an entry fee of $215. Admission to foreign visitors will be free. This is, of course, to attempt to keep the resorts tourist-exclusive. 

In 2023, Thailand welcomed over 28.15 million people. Plus, the country signed an agreement with China at the start of the year and now offers a visa-free policy to all Chinese visitors. Since March 2024, both Chinese and Thai tourists have been able to visit each other’s countries freely, without needing a visa. An estimated eight million Chinese tourists will visit Thailand by the end of the year. 

Given how easy it is now for Chinese tourists to visit Thailand, the latter will likely see a rise in gambling tourists should the gambling legislation be approved. 

The passing of the legislation will have a knock-on effect on other Southeast Asian nations – namely, the Philippines. Last year, the Philippines gaming regulator estimated that the country’s gambling revenue would at least double by 2028. However, with a potential Thai gambling market to compete with, whether this will be attained is no longer clear. 

On a world scale, Thailand ranks much higher than the Philippines in terms of annual tourism levels. According to WP Travel, Thailand is the eighth most visited country in the world, while the Philippines ranks at number 43, with an average of 8.3 million per year. If Thailand were to build bigger and better casinos, the gap between the two countries could grow even wider. 

However, it is still uncertain whether Thailand’s gambling legislation will come into play. Gambling has been officially banned in the country since the passing of the country’s Gambling Act in 1935 and was strictly prohibited even before then. Additionally, gambling is generally frowned upon by Thai society. 

There has also been significant shuffling within Thailand’s government over the past few months. One of the main proponents of the gambling legislation was former prime minister Srettha Thavisin, who was dismissed on 14 August this year. So, the legislation may now face difficulty as it makes its way through parliament, although some governmental figures still support its passing. 

Should the legislation fall through, the Philippines current touristic boom will likely continue into the coming years. An impressive 1.2 million people visited the Philippines during the first two months of 2024. 

South Korea remains the country’s top source of tourism, accounting for 28.50% of the total. Given that South Koreans are generally not allowed to gamble in the casinos located within their country, it can be assumed that many of these tourists used the Philippines gambling facilities while here.

ADVT.

This article is brought to you by Bazoom Group ApS.

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