Thailand Prepares for Casino Boom Amid Economic Hopes

[webfact]

 

Thailand is edging closer to legalising large-scale entertainment complexes that include casinos, according to Deputy Finance Minister Julapun Amornvivat. The final draft of the bill paving the way for these developments is slated for Cabinet review within the next three to four weeks.

 

Julapun disclosed that 16 government agencies have contributed their insights on the proposed regulation, which will accompany the final draft. This bill, initially drafted by a dedicated House committee, is expected to undergo refinements based on the feedback received.

 

“The casinos will occupy no more than 5% of the space within these complexes, which will also feature hotels and various entertainment facilities,” Julapun explained. The project is seen as a major economic boost, with potential investments estimated between 30 billion and 50 billion baht.

 

Despite the economic advantages, several agencies have called for measures to mitigate the social impact of gambling. Proposed mechanisms aim to shield society from potential negative effects, ensuring responsible operation.

 

After Cabinet approval, the bill will head to the Office of the Council of State for legal vetting before being presented to the House of Representatives. Additionally, a national committee comprising representatives from different agencies will be formed to oversee the project.

 

Prime Minister Srettha Thavisin has thrown his support behind legalising casinos, arguing that it would allow for better control of gambling and proper tax collection. Currently, Thailand's strict 1935 Gambling Act only permits state lotteries and government-backed horse races. Unregulated online gambling, though not explicitly covered by law, is also rampant.

 

The government’s push for legal casinos is partly aimed at curbing illegal gambling activities, with hopes of raising substantial public funds through regulation and taxation. There are discussions to restrict access to foreigners, akin to Macau’s model in China, the only place where gambling is legally sanctioned.

 

A recent government report suggests that while licenses would be issued for these complexes, operators would need to secure their own funding. The complexes are expected to be situated near major tourist areas, within 100 kilometres of an airport, but not near Phuket. The initiative could generate up to 50,000 jobs, with each complex employing around 10,000 people.

 

Though any new gambling laws will take time to implement, the proposal already enjoys significant backing from business leaders and has strong support from the Prime Minister.

 

Picture courtesy: Wikipedia

 

-- 2024-06-20

 

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[MalcolmB]

The loan sharks will make a fortune.

Lending against property and then foreclosing on it when they inevitably lose. 

[zakalwe]

There will be some newly made billionaires.

[watchcat]

51 minutes ago, webfact said:

Prime Minister Srettha Thavisin has thrown his support behind legalising casinos, arguing that it would allow for better control of gambling and proper tax collection.

 

So the lottery tax collection is not proper?

[mfd101]

A casino-led economic recovery! Once again Thailand leads the way!

[crazykopite]

Gambling is more addictive than smoking weed but I don’t see any officials giving an opinion on it More Thais will end up killing themselves as the gamble away there lives and thats vey dad 

[ronster]

Wonder if they are thinking of building these to attract Chinese gamblers.

[RayOday]

Massive corruption waiting in the wings. What's next call center back rooms ala Kokang and  Preah Sihanouk? Just what a superstitious consumer indebted society needs. 

To each their own yet I see a large under educated population about to be fleeced. Gambling is a tax on the mathematically challenged.

[MrJ2U]

Hopefully put a few casinos at the new bridge in Being Kan.

 

Sakon Nakhon and Bueng Kan would benefit from any tourism it would bring.  

[Cabradelmar]

Within 18 months of any opening, there will be so many Thais bankrupt and/or in-debt to family or loan sharks that the outcry to close them will be deafening. Alcohol, ganja, gambling and prostitution... queue the quality tourist 🤣

[Rockjockey]

Having worked as a croupier in casinos in London, Iran and Greece I for one hope they don't open them here in Thailand. They are the cause of such misery, desperation and addiction because the only winners are the casinos. Thais will be like lambs to the slaughter. As a croupier I saw it first hand. 

[YouAgain]

Gambling has done such nice things for Sihanoukville....Oh wait. 

 

As of Jan 2024...

 

Currently, there are 362 officially confirmed buildings that stand unfinished in Sihanoukville, requiring over $1 billion in investment to complete. An additional 176 buildings have been completed but are not yet operational and stand empty. 

[steven100]

17 minutes ago, Cabradelmar said:

Within 18 months of any opening, there will be so many Thais bankrupt and/or in-debt to family or loan sharks that the outcry to close them will be deafening. Alcohol, ganja, gambling and prostitution... queue the quality tourist 🤣

yeah,  isn't that great ... 

 

 

 

 

 

[expat_4_life]

4 hours ago, webfact said:

Though any new gambling laws will take time to implement, the proposal already enjoys significant backing from business leaders and has strong support from the Prime Minister.

(in other related news)
Bangkok, Thailand 20Jun2024 - Thai Immigration has launched a new Non-immigrant visa aimed at attracting gamblers (the NON-O-G), in conjunction with the G-Wallet (which can only be used in government sponsored casinos). 

Financial requirements are a 2 million baht initial investment in a G-Wallet that is never allowed to exceed the initial investment again and requires monthly deposit of not less that 100k Baht.

TAT also announced the "We'll watch your wallet" tourist slogan

[Butts]

4 hours ago, webfact said:

The complexes are expected to be situated near major tourist areas, within 100 kilometres of an airport, but not near Phuket.

Why?

[wensiensheng]

Let’s face it. The casino operators will make a fortune. The punters will lose lots. The surrounding “entertainment “ will be sleazy.

 

if that adds up to an economic boom then I guess a boom is on its way.

[Hakuna Matata]

Oh, my God! This is definitely a move in the wrong direction!

 

Are you crazy?

 

Do you want Thailand to became a second Cambodia?

[Paul Henry]

Cannot see how a Casino will attract tourists.Thailand is surrounded by countries that have casinos. Europeans are well catered for in Europe, Australia has too many. maybe middle east and India may help in this dire event.Only people to suffer and loose will be Thais

[Seppius]

Well, the government will at last get some cash from the Zero Dollar Chinese, 😀

[hotchilli]

48 minutes ago, ronster said:

Wonder if they are thinking of building these to attract Chinese gamblers.

Chinese developers to finance, build and take a large cut of the proceeds.

[Sydebolle]

Don't get me wrong but there are MUCH more professional players in the legal casino business. Macau springs to mind on a pole position. King Romans in the special economic zone of Laos' province of Bokeo (Tonpheung) is to be mentioned as well as Poipet opposite Aranyaprathet or Savan in Savannakhet opposite Mukdahan. 

Seeing what kind of committees, working groups, departments and ministries are trying to the a slice of the cake in Thailand - the mind boggles. In addition there is no tourism to be expected from this, it will merely permit ill-gotten funds getting money-laundered through ..... casino winnings - your call 😉 

[hotchilli]

4 hours ago, webfact said:

“The casinos will occupy no more than 5% of the space within these complexes, which will also feature hotels and various entertainment facilities,”

At the demise of local businesses?

Will these huge entertainment facilities take custom away from small local run bars, restaurants hotels etc etc?

[steven100]

Just put a 7-11 at every entrance and they'll be fine,   imagine the drunken thai losers that will crowd the steps crying in their lao khao every night,  loan sharks hovering around, even the food vendors will do ok. 

[Skeptic7]

This place is a gas(p)❗

[Purdey]

The government is one of the weakest brained bunch in many years. Yes, lottery and horse racing exist, but how have they grown the economy more than a tick?

Long term investment by foreign manufacturers and educational development to meet the needs of the market would help the country much more.

[LatPhrao]

Welcome even more thugs and undesirables to Thailand.  Grift and graft big time.  What a pity.

[sqwakvfr]

1) No casinos in mainland China 2) Chinese have to leave the country to gamble at Casinos(Macau is the closest) 3) In  South Korea some casinos only allow foreingers in and others restrict the number of times per month a Korean national can enter.  

 

Why?  Gambling addiction is many Asian countries is very common.  I doubt LOS willl be any differernt.  Good luck with the ecoonmic boom that casinos will bring to LOS. 

[PeterA]

So, gambling, when run by the government is ok, but not in private? 

In a year or two it will be deemed bad for public health and outlawed again.

[Homburg]

Will it happen? I'm betting it will.....

[Photoguy21]

4 hours ago, zakalwe said:

There will be some newly made billionaires.

Mostly Chinese