Thai Cabinet Greenlights Draft Entertainment Complex Bill, Online Gambling Legalisation Loom

[webfact]

Casino file photo courtesy: Wikipedia

 

Thailand's plans to legalise online gambling took a significant step forward as the Cabinet provisionally approved the draft Entertainment Complex Act. If given the green light, this bold move aims to boost the economy while addressing societal concerns.

 

Today’s Cabinet meeting, presided over by Prime Minister Paetongtarn Shinawatra, saw the endorsement of the draft Entertainment Complex Act, introduced by the Finance Ministry. The Council of State, a key legal advisory body, will now scrutinise the details and establish guidelines for managing such complexes, including the creation of a policy and executive committee to oversee operations.

 

Simultaneously, the Digital Economy and Society Ministry is considering legalising online gambling, a move believed to invigorate the economy and curb illegal gambling-related issues. Minister Prasert Jantararuangthong stated that a detailed study is underway, noting the potential economic benefits.

 

According to Krungsri Securities, the online gambling sector in Thailand shows promising growth. Analyst reports suggest this topic might reach the Cabinet's agenda soon. The booming online gambling market, already valued at over 19.569 billion Baht (around USD 546 million) as of last year, demonstrates an annual growth rate of 5.34%. Expectations are high, with projections indicating a growth to approximately 24.085 billion Baht (around USD 672 million) by 2028.

The financial markets are reacting with interest. Digital technology and ICT firms such as Samart Corporation Plc (SAMART), Berli Jucker Plc (BE8), and Bluebik Group Plc (BBIK) are poised to benefit significantly if this legislation passes. Analysts point out that integrating online gambling into the formal economy could see the sector grow at an estimated 7.3% per annum.

 

Legalising online gambling entails revising existing secondary laws, potentially bypassing the lengthy parliamentary process through a Royal Decree. This strategic approach could streamline integration and yield economic advantages more swiftly.

 

As Thailand inches closer to a legalised online gambling framework, the government's strategy reflects a calculated effort to balance economic stimulation with careful regulatory oversight. Whether this approach succeeds will depend on legislative refinement and market reception, marking a transformative phase for the country's economic landscape and societal management of gambling activities, reported Thai Newsroom.

 

-- 2025-01-13

 

 

[snoop1130]

Thailand greenlights legal casinos to boost tourism and economy

 

Picture courtesy of Tsogo Sun

 

By Bob Scott

 

In a game-changing move, the Thai Cabinet has given the nod to a draft bill that would legalise gambling and casinos, aiming to turbocharge tourism, job creation, and investment.

 

Prime Minister Paetongtarn Shinawatra announced the bold move today, January 13, heralding a new era for the country’s economy.

 

Under the government’s ambitious plan, the legislation, soon to be debated in Parliament, will allow gambling in sprawling entertainment complexes.

 

While casinos and most types of gambling are currently banned in Thailand, illegal betting on football and underground lotteries flourish, with millions involved in the black market. Currently, legal gambling is limited to state-controlled horse races and the official lottery.

 

Unlike its neighbours, Cambodia, Singapore, the Philippines, Laos, and Myanmar, Thailand has yet to tap into the lucrative casino market.

 

The government argues that the lack of legal casinos means missing out on potential revenue and not fully capitalising on the tourism sector’s potential. Tourism remains a vital pillar of Southeast Asia’s second-largest economy, with Thailand anticipating record visitor arrivals in the coming years, said the 38 year old Thai prime minister.

 

 

“Legalisation will protect the public and also generate more state revenue.”

 

Though previous attempts to regulate gambling have been met with resistance from conservatives in the predominantly Buddhist nation, the latest proposal hopes to overcome these hurdles.

 

Deputy Finance Minister Julapun Amornvivat shared optimistic forecasts, predicting that the legalisation could spur a 5% to 10% increase in foreign visitors and boost tourism revenue by approximately 120 billion to 220 billion baht. Additionally, the initiative could create between 9,000 and 15,000 new jobs, reported Bangkok Post.

 

A staunch advocate of legalising gambling is billionaire ex-premier Thaksin Shinawatra, the PM’s father, who remains a powerful influence within the ruling party.

 

As Thailand rolls the dice on this daring economic strategy, it aims to turn the tables on its rivals and emerge as a key player in the regional tourism sweepstakes.

 

Source: The Thaiger

-- 2025-01-13

 

 

[MikeandDow]

Another Mess about to happen !!! this is the same as the legalisation of cannabis !! look how that turned out!

[happysoul]

I'm not a politician but I see 2 things coming with casinos :

 

- easy money laundering for those in need of it

- household depts sky rocketing

 

Poor Thai population, good luck with that one !

[BKKBike09]

They're proposing a THB 5,000 entry fee for Thai nationals. That will be a deal killer for any serious major overseas operator, as would any regulation stating 'casinos for foreigners only'. Casinos need the local mass market.

 

I suspect it's a sly effort to make casinos effectively foreigner only without actually imposing that restriction. It plays to the domestic anti-casino lobby - and also, of course, to the underground casino operators and the Poipet operators, all of whom will be vehemently opposed to any realistic competition from international-standard legal casinos in Thailand.