Pheu Thai Defends Casino-Entertainment Complex Plan, Eyes GDP Boost

[snoop1130]

 

The Pheu Thai Party has stood firm on its proposed casino-entertainment complex project, outlining how it aims to legalise underground gambling and collect substantial tax revenue. In a statement released on their webpage yesterday, 22 September, the party highlighted that such legalisation could contribute to over 50% of Thailand's GDP, thereby significantly bolstering the economy and funding vital sectors like education.

 

Prime Minister Paetongtarn Shinawatra, presenting the government’s policy in Parliament on 12 September, mentioned the long-standing resistance to the idea of legalised casinos. “For over 20 years, attempts to legitimise such economic activities failed due to societal opposition. Recent studies by various governments have made a case for their potential benefits,” she said.

 

According to Pheu Thai, this initiative is part of a broader strategy to tap into the global fun economy, which the Finance Ministry estimates to be worth US$13.7 trillion (around 451 trillion baht). The global casino entertainment market alone was valued at US$1.5 trillion in 2022 and is expected to reach US$2.2 trillion by 2028.

 

A bill to legalise casino operations within these complexes is now progressing, with the draft Entertainment Complex Act ready for public hearing, as required by the constitution. The bill includes a provision for a 30-year operational licence, costing operators an initial 5 billion baht and an annual fee of 1 billion baht.

 

 

 

 

Key aspects of the bill also include barring those under 20 from entering these venues and charging a 5,000 baht entrance fee for Thai citizens, while keeping access open to all foreigners.

 

The proposed project could generate at least 12 billion baht in taxes in its first year. An extensive House committee study examined economic, social, and cultural impacts, as well as business structure and operational criteria for these venues.

 

Five potential locations have been identified: two in Bangkok, and one each in the Eastern Economic Corridor, Chiang Mai, and Phuket.

 

Despite this, opposition voices, such as Pariyes Angkurakitti from the Thai Sang Thai Party, have raised concerns. Angkurakitti argued that weak law enforcement could undermine efforts to regulate the burgeoning casino industry, casting a shadow over Pheu Thai’s ambitious plans.

 

File photo for reference only

 

-- 2024-09-23

 

[hotchilli]

10 hours ago, snoop1130 said:

The Pheu Thai Party has stood firm on its proposed casino-entertainment complex project, outlining how it aims to legalise underground gambling and collect substantial tax revenue. In a statement released on their webpage yesterday, 22 September, the party highlighted that such legalisation could contribute to over 50% of Thailand's GDP, thereby significantly bolstering the economy and funding vital sectors like education.

Gambling and girls.... Thailand is fast becoming a playground

[Classic Ray]

Would be better to stimulate the economy by supporting manufacturing, agriculture and higher education to enable competition with other developing countries.

 

Casinos are just a short term boost, come with their own addiction problems and the main customers, the Chinese, are subject to their own economic downturn and restrictions.

 

Thinking casinos will remove underground gambling is a fallacy. Most Thai gamblers are low end and will not travel to casinos.

[Aussie999]

The only thing they "eye" is more profits, for the rich... there is absolutely no benefit to the thai people

[flexomike]

12 hours ago, snoop1130 said:

 

The Pheu Thai Party has stood firm on its proposed casino-entertainment complex project, outlining how it aims to legalise underground gambling and collect substantial tax revenue. In a statement released on their webpage yesterday, 22 September, the party highlighted that such legalisation could contribute to over 50% of Thailand's GDP, thereby significantly bolstering the economy and funding vital sectors like education.

 

Prime Minister Paetongtarn Shinawatra, presenting the government’s policy in Parliament on 12 September, mentioned the long-standing resistance to the idea of legalised casinos. “For over 20 years, attempts to legitimise such economic activities failed due to societal opposition. Recent studies by various governments have made a case for their potential benefits,” she said.

 

According to Pheu Thai, this initiative is part of a broader strategy to tap into the global fun economy, which the Finance Ministry estimates to be worth US$13.7 trillion (around 451 trillion baht). The global casino entertainment market alone was valued at US$1.5 trillion in 2022 and is expected to reach US$2.2 trillion by 2028.

 

A bill to legalise casino operations within these complexes is now progressing, with the draft Entertainment Complex Act ready for public hearing, as required by the constitution. The bill includes a provision for a 30-year operational licence, costing operators an initial 5 billion baht and an annual fee of 1 billion baht.

 

 

 

 

 

Key aspects of the bill also include barring those under 20 from entering these venues and charging a 5,000 baht entrance fee for Thai citizens, while keeping access open to all foreigners.

 

The proposed project could generate at least 12 billion baht in taxes in its first year. An extensive House committee study examined economic, social, and cultural impacts, as well as business structure and operational criteria for these venues.

 

Five potential locations have been identified: two in Bangkok, and one each in the Eastern Economic Corridor, Chiang Mai, and Phuket.

 

Despite this, opposition voices, such as Pariyes Angkurakitti from the Thai Sang Thai Party, have raised concerns. Angkurakitti argued that weak law enforcement could undermine efforts to regulate the burgeoning casino industry, casting a shadow over Pheu Thai’s ambitious plans.

 

File photo for reference only

 

-- 2024-09-23

 

Biggest mistake Thailand can make

[Thingamabob]

3 hours ago, hotchilli said:

Gambling and girls.... Thailand is fast becoming a playground

...and guns, gangs and ganja...

[jcmj]

If they truly intend to use a good part of the taxes to improve Thai education and improve the the infrastructure I’d be happy with it, but I just don’t think that’s going to happen. It’s just going to make the rich richer. 

[hotchilli]

52 minutes ago, Thingamabob said:

...and guns, gangs and ganja...

Paradise lost

[harryviking]

The ones making huge amount of money on casinos are the owners! Stop pretending it is fir the good of the country....😆...I guess some politicians will get the biggest shares? 

[crazykopite]

Gambling is against the law in Thailand if they allow casinos then the floodgates will open to all forms of gambling even the government lottery is a form of gambling ! Gambling will cause far greater problems that someone who enjoys a spliff I also ask myself what foreign company would invest their billions when they can never own the business is this another Toni idea !

[black tabby12345]

My perception of casino.

It is often the best place for the organized criminals(within and without) to launder their black market earnings.

Even though it creates some jobs on the site, there will be far greater financial losses to the country.

 

Bet these things are none of their concern when  part of the govt establishment itself functions  like the organized crime.

 

 

 

Edited September 24 by black tabby12345

[black tabby12345]

6 hours ago, jcmj said:

If they truly intend to use a good part of the taxes to improve Thai education and improve the the infrastructure I’d be happy with it, but I just don’t think that’s going to happen. It’s just going to make the rich richer. 

 

Absolutely.

The reason behind the poor  funding of their education system is, to keep the common people undereducated/ignorant.

If they are born poor, it often means the deprivation of enough educational chances.

The poverty level family often cannot cover   the cost of own child's school expenses(tution fee above free junior high, 4 kinds of uniforms, lunches at school, stationeries) .

 

So the 0.1% of the nation can forever enjoy their unfair privileges (domination of national wealth, unofficial legal immunity etc).

Their loss of modern-day aristocracy is the last thing they want.

That is why they do their best not to better their education.

Edited September 24 by black tabby12345

[bannork]

Gambling is a cancer in Thailand society, destroying many families when addicted members sell everything they own.

To encourage it is a sin, as mentioned it will do nothing to eliminate illegal gambling.

Shame on Pheu Thai for betraying the interests of the Thai people.

[seajae]

Have to wonder if thaksin will be part of the ownership along with others of his cronies