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

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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