Thailand Prepares for Casino Boom Amid Economic Hopes

[spidermike007]

Since illegal casinos seem to thrive here, and gambling is rampant, casinos would seem like a good idea. It would represent a kind of honesty, by bringing this filthy habit out into the open. I know some gamblers who are moderate in their gambling, and do it for fun. I know some others who are out of control.

 

I used to know a guy who had a custom built, spectacular hilltop villa on Samui. This place was unbelievably luxurious and was probably worth well over $2,000,000. He was a ship captain who for decades piloted major ships and put a lot of his life savings into this villa for retirement.

He married the wrong woman and she was a compulsive gambler. One night she was out gambling and she put up the house and lost. Some mafia guys came by a couple days later with the police and claimed the house. The husband had no idea what had happened. He consulted an attorney who said there was not much he could do, as these thugs would just have him taken out. So he divorced her, (a bit too late) and he decided to go back to work, he was nearly 65 years old, and he decided to go back to work as a captain, try to get back on his feet, and start all over again.

A very cautionary tale, what's the moral of a story? Take your time, time is your ally, it's never their ally, but it's always ours. When getting to know a woman, if there are problems are going to reveal themselves over time, and if things are good they are only going to get better, so take your time.

[Photoguy21]

If you do a border run via Poi-Pet you see there is a sign warning against gambling for safety reasons. If it is allowed in Thailand the same safety issues will be apparent very quickly.

[Srikcir]

5 hours ago, MalcolmB said:

The loan sharks will make a fortune.

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

So situation normal.

[Grumpy one]

4 hours ago, zakalwe said:

There will be some newly made billionaires.

Yeah the casino owners as usual 

[ChasingTheSun]

5 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.

huh? No casino for Phuket?

[Grumpy one]

12 minutes ago, Photoguy21 said:

If you do a border run via Poi-Pet you see there is a sign warning against gambling for safety reasons. If it is allowed in Thailand the same safety issues will be apparent very quickly.

Back in 2008 Poi-Pet casino had a sign of their doors

A red line across a circle with a gun and a sword

A bit of old world and present day warning  

[Srikcir]

Good Luck Australians!

Which country has the worst gambling addiction?

• “Australia has the highest gambling losses per capita of any country in the world. Last year, Australians gambled away approximately $25bn (That is now almost $1,000 per person, incl. children, per year). We have less than 0.5% of the world's population, but almost 20% of its poker machines. https://www.aph.gov.au

 

[klauskunkel]

5 hours ago, webfact said:

Thailand is edging closer to legalising large-scale entertainment complexes that include casinos

What was it again that the government legalized not so long ago? Cannabis? How is that going now?

Wanna bet on a sure thing...

[ftpjtm]

6 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

Having bars and rooms on site, so the women can recoup some of their losses would be a good idea.

Edited June 20 by ftpjtm

[kuzmabruk]

1 hour ago, hotchilli said:

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

Chinese are not needed.  Thais are wealthy enough to build a complete copy of Las Vegas or Macau.  Some people on this forum don’t understand the wealth that has been accumulated in Thailand, by Thais. 

[Burma Bill]

6 hours ago, MalcolmB said:

The loan sharks will make a fortune.

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

 

With respect, not if the casinos are forbiden for entry by Thai people, only foreign punters.

Here in Cambodia, all the casinos are barred to Khmer citizens. Only foreigners, whether residents or visitors, can gamble at a legal casino, of which there are many.

[ross163103]

How many years have I been hearing about this?! Maybe with so many chinese here now it's a possibility, but the govt willl be deciding how to handle the profits/brown envelopes before anything is done! Gotta sort out the important stuff first!

[off road pat]

1 hour ago, PeterA said:

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.

Yes,.. But first they will have to deal with the rise of criminality and the suicides that the casinos will bring !! "Crime", from the gamblers that lost money and try to get some back by robing a gold shop or some people. "Suicides", from people that lost all their family's savings. !!!

[connda]

The promised "Bird-Flu Pandemic" will put an end to that.  Well - unless Casinos are "Essential Businesses" this time around.  Now that I'm thinking about it, they probably would be. 

[connda]

I ❤️ the hypocrisy.

Gambling is bad.  You gamble, we catch you we throw you in prison.  Gamble bad for you, bad for society.
Than...
Casino good.  You gamble at casino, government make money.  Gamble at casino is good, good for society. 

🐂💩

[OneMoreFarang]

In principle I like the idea of legalizing gambling because it happens anyhow. Now lots of influential people make huge amounts of money with illegal gambling and lots of officials collect bribes to look the other way.

What will happen when gambling is legalized? Will it only be legalized for some, and lots of illegal casinos will continue to exist?

And what will happen to all the people who make lots of money with illegal gambling now? Will they just accept that they won't make any money anymore? Where should all the officials pay their luxury cars from, if no tea money is collected anymore?

 

It is an enormous challenge to change the current situation to something better. Think about it. And think again, and ask experts to think about it again, and ask people who run the current illegal gambling. This is not easy. Don't mess it up like the weed legalization which nobody thought trough.

[Funkymover]

all to keep the chinese happy, as thailand slowly becomes china 

[Dogmatix]

Last few times they went down this route there was a big backlash from the Buddhist lobby and the government backtracked.  Wonder where they are today or has Thailand gone secular all of a sudden.

[bkk6060]

If I make money gambling I guess I will have to pay taxes on it?

[Cabradelmar]

3 hours ago, steven100 said:

yeah,  isn't that great ... 

 

 

 

 

 

which part?

[newnative]

3 hours ago, Rockjockey said:

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. 

Restrict entrance to foreign passport holders.

[steven100]

How honest and open do you think these Casino's will be with Thailand's participation  

They can't even lie straight in bed so I don't expect anything honest & truthful if someone happens to spin up a major jackpot,  there'll be a machine malfunction for sure or similar.  

[steven100]

1 hour ago, Funkymover said:

all to keep the chinese happy, as thailand slowly becomes china 

exactly,  that's all this is ....

[animalmagic]

29 minutes ago, bkk6060 said:

If I make money gambling I guess I will have to pay taxes on it?

It is also a good way of allowing taxation on money laundering.  A win-win for the crooks and the government.

Understanding money laundering in casinos (complyadvantage.com)

[stuarty]

Why is it "but not near Phuket"?

[hotchilli]

1 hour ago, kuzmabruk said:

Chinese are not needed.  Thais are wealthy enough to build a complete copy of Las Vegas or Macau.  Some people on this forum don’t understand the wealth that has been accumulated in Thailand, by Thais. 

So why don't they build the Land bridge,  instead of begging for foreign investors

[connda]

1 hour ago, Dogmatix said:

Last few times they went down this route there was a big backlash from the Buddhist lobby and the government backtracked.  Wonder where they are today or has Thailand gone secular all of a sudden.

Thais say they are Buddhist if it fits their needs, like the elite, but trust me - but the elite are secular. 

[patman30]

8 hours ago, webfact said:

There are discussions to restrict access to foreigners,

this would not be a wise move, but this TIT, 
Very Good news though, as i have a lovely plot of land next to a recently built complex awaiting this.

[newbee2022]

9 hours ago, webfact said:

 

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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It's not "Thailand", which want to have casinos but tycoons with influence, power and money. Money laundering is then much easier and profits astronomical. 👎. That at present the govt try to raise money wherever they can (farangs) is another thing.

[Peabody]

But, what about the children? Or is that only in play for ganja?