Thailand’s Prime Minister Srettha Thavisin recently announced that the government is contemplating the drafting of a casino bill that could lead to significant economic growth. He believes that legalizing casinos in the country could create more job opportunities, boost state revenue, and pave the way for the development of a large entertainment project.
Despite the current prohibition on casinos, Thailand currently allows gambling only on state-controlled horse races and the lottery. However, illegal gambling activities, such as underground casinos and soccer betting, are widespread. In an effort to attract more investment and tourism, the parliament has been presented with a proposal to consider legalizing casinos in the country.
Proponents of legalizing casinos in Thailand argue that it could potentially attract a significant number of overseas visitors. This move could position Thailand as a strong competitor to established casino destinations like Macao. By regulating the gambling industry and imposing taxes, the government hopes to address the issue of the grey economy while creating employment opportunities.
In the past, the idea of legalizing gambling has been met with public resistance, preventing any government from moving forward with such plans. However, with the emergence of underground casinos and the exodus of Thai nationals to neighboring countries like Cambodia for gambling purposes, the government is now revisiting the possibility of legalizing casinos. The proposed entertainment complex is said to include a variety of amenities, including a concert hall, sports venue, and a gambling floor that would occupy a small percentage of the total area.
To advance this initiative, the Cabinet would need to present a draft law to parliament for deliberation and approval. The exact location of the proposed entertainment complex has not been disclosed by Prime Minister Srettha. If the bill is passed, it could potentially transform Thailand’s economy and tourism sector, providing a much-needed boost in the post-pandemic recovery phase.
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