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Thailand Moves To Legalise Casinos And Gambling To Boost Economy And Tourism

Thailand’s cabinet has approved a draft law to legalise casinos and gambling, aiming to boost tourism, jobs, and revenue.

Thailand’s cabinet has approved a draft law to legalise gambling and casinos, marking a significant step toward boosting tourism, creating jobs, and attracting investment.

Prime Minister Paetongtarn Shinawatra announced the decision on Monday, stating that the law, once finalised by parliament, would allow gambling in large-scale entertainment complexes.

Despite the current ban on most forms of gambling, underground betting, soccer gambling, and illegal lotteries are widespread in Thailand. Legal gambling is limited to state-regulated horse races and official lotteries. The government argues that legalising casinos would generate significant revenue and enhance the country’s tourism potential.

Neighbouring countries such as Cambodia, Singapore, and the Philippines have successfully capitalised on casino complexes, reaping substantial economic benefits. Thailand’s government believes it can no longer afford to ignore this opportunity. Deputy Finance Minister Julapun Amornvivat projected that legalisation could increase foreign tourist arrivals by 5% to 10%, generating an additional 120 billion to 220 billion baht ($3.45 billion to $6.32 billion) annually and creating up to 15,000 new jobs.

“Legalisation will protect the public and generate more state revenue,” Paetongtarn explained. Tourism, a vital pillar of Thailand’s economy, is expected to reach record numbers in the coming years, further amplifying the potential benefits of this move.

While successive governments have considered regulating gambling, conservative opposition in the predominantly Buddhist nation has historically stalled these efforts. However, the current proposal has gained momentum under the influence of billionaire former Prime Minister Thaksin Shinawatra, a staunch advocate for gambling legalisation and the father of Prime Minister Paetongtarn.

The draft law now awaits parliamentary deliberation, setting the stage for a transformative shift in Thailand’s approach to gambling and its economic prospects.

Melissa Enoch

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