Thailand will see major changes in the entertainment industry in the near future. The government is developing a bill legalizing casinos in entertainment complexes. After its adoption, tourism and the country’s economy in general will reach a new level. How exactly will the legalization of casinos affect life and recreation in Thailand?
What stage is the bill at?
A bill aimed at legalizing casinos in Thailand will soon go through a public hearing. This step is spelled out in the constitution, it ensures that public opinion will play an important role in the legislative process. When the public feedback is gathered, the bill will go to the Cabinet of Ministers. There it will be given final approval.
According to the Thai government, the entertainment industry, including casinos, is the main opportunity to increase revenues from tourism. The bill says that thanks to the legalization of casinos, more tourists will come to the country, which means that tax revenues will increase.
The deputies who support the bill emphasize that the government does not seek to generate revenue from locals. In order to prevent Thais from abusing casinos, the entrance to entertainment complexes will be paid – 5000 baht, and only for locals. Foreigners will be able to enter them for free.
The new casinos are likely to be aimed at tourists. Gambling can be a good complement to lying on the beach or tasting the local cuisine. As for local gambling enthusiasts, they mostly prefer to gamble on the Internet. The situation is similar in other countries, which allows the global iGaming market to grow at an average annual rate of 6.5%.
One of the advantages of online gambling entertainment is its variety. In addition to traditional slots and roulette, players have access to various arcades, including sports. In recent months, the soccer game Penalty Shoot Out has been very popular. The popularity of the game is also evidenced by online casino review sites. For example, this website shows that Penalty Shoot Out is available at many major online casinos. And this is just one of thousands of gambling entertainment available directly from your phone.
Such a wide variety of games has attracted the younger generation to iGaming. For many it is an alternative to the video games popular in the country. And visiting land-based casinos in such a situation has become not at all necessary.
How will the country regulate gambling establishments?
The bill sets out detailed rules for the management of entertainment complexes. If the owner of the complex wants to open a casino, he must first obtain a license, valid for up to 30 years. The cost of such a license is 5 billion baht upfront and another 1 billion baht annually.
The government will organize inspections of the complexes every five years to establish whether the complexes meet the necessary standards. The bill also states that people under the age of 20 will be banned from entering casinos.
What does Thailand’s economy have to do with the legalization of casinos?
The entertainment industry is actively developing all over the world. In 2022, casinos cumulatively brought 1.5 trillion dollars. According to experts’ forecasts, by 2028 this figure will increase to 2.2 trillion dollars.
The first place in terms of casino revenues is Macau. It is home to 690 thousand people, and the casino brings 32 billion dollars annually. In second place is Las Vegas with a figure of 30 billion dollars a year. Singapore has revenues of 12 billion dollars annually.
A report by a committee of the Thai House of Representatives said that during the first year of casino legalization, the amount of taxes will be at least 12 billion baht. Potential sites for casino construction have been selected in Bangkok, Phuket and Chiang Mai.
What are the dangers of legalizing casinos in Thailand?
Thailand’s opposition parties are against the legalization of gambling in the country. Party representatives argue that the potential benefits are less than the possible negative consequences. The general secretary of the Bhumjaithai party Chaichanok Chidchob (Chaichanok Chidchob) identified four main problems that would entail the legalization of casinos:
- The bill will not rid the country of the problem of illegal gambling.
- The supposed benefits of legalizing casinos do not justify the investment required to implement the bill.
- The law does not say exactly how Thai workers will be allocated jobs in entertainment complexes.
- The use of casinos for tourism development is inappropriate given the attractions that exist in the country.
