Thailand bets big on casino boom under entertainment banner

[snoop1130]

Police swoop on an illegal gambling den in Nonthaburi. Picture courtesy of Bangkok Post

 

By Bob Scott

 

In a daring move set to shake up the Land of Smiles, the Government of Thailand is pushing forward with a controversial plan to legalise casinos, sneakily packaged as entertainment complexes.

 

This bold move comes hot on the heels of outspoken former premier Thaksin Shinawatra’s call to legalise online gambling, promising a windfall of tax revenue. Now, the Digital Economy and Society Ministry is immersed in talks with various stakeholders to thrash out the details of online gambling regulation.

 

Currently nestled in the House of Representatives for review, the proposal has sparked a heated debate. Civil society groups have rung alarm bells, expressing fears that loosening the reins on gambling might unleash a Pandora’s box of social issues if regulations aren’t strict enough. Rumbling concerns suggest that the glitzy project could end up lining the pockets of a select few powerful investors whilst leaving society to grapple with the fallout.

 

Sisdivachr Cheewarattanaporn, who holds the reins at the Association of Thai Travel Agents, admits that civic groups have an uphill battle against the tide of legislative momentum. Despite the glittering potential for a tourism boost, he warns that lax regulations could tarnish Thailand’s sterling reputation, and raise the spectre of money laundering.

 

Sanan Angubolkul of the Thai Chamber of Commerce echoes these sentiments, underscoring tourism as the driving force behind the policy while urging caution regarding its broader impacts.

 

Economic pundits predict that, if rolled out successfully, the entertainment complex could be a game-changer for GDP and job creation, with tantalising estimates of 69.6 billion baht in revenue.

 

Pornchai Thiraveja, leading the charge at the Fiscal Policy Office, points out that while gambling itself might not directly prop up the economy, the ripples from associated activities could pack a punch in GDP growth.

 

 

Amonthep Chawla, chief economist at CIMB Thai Bank, highlights the juicy tax revenue poised to flow from legitimising the once-underground gambling scene. Meanwhile, Krungsri Securities sees the formalisation of online gambling as a financial goldmine waiting to be tapped.

 

Kriengkrai Thiennukul, head of the Federation of Thai Industries, views the entertainment complex as a catalyst to stimulate the economy by pulling in tourists and stemming the flow of cash to neighbouring countries.

 

The Joint Standing Committee on Commerce, Industry, and Banking is betting on tourism-led GDP growth, buoyed by a surge of foreign visitors and government stimulus efforts.

 

Thaniwan Kulmongkol, President of the Thai Restaurant Association, suggests placing the entertainment complex in lesser-known locales to spruce up tourism there, steering clear of already bustling hotspots like Pattaya. But the spectre of managing gambling within these complexes looms large.

 

Taking no chances, a network of anti-gambling advocacy groups is banging the drum against the proposal, wary that its fruits will be harvested by only the elite echelon of investors.

 

Amidst these unfolding debates, police forces have been busy cracking down on illegal dens of chance, keeping the gambling landscape under a watchful eye.

 

As Thailand flirts with its dicey casino gamble, the nation awaits to see whether this high-stakes bet will usher in an economic boon or bring the house down with it. The stakes are high, and only time will reveal which way the chips will fall in this bold new venture.

 

Source: The Thaiger

-- 2025-01-20

 

 

[Geoffggi]

There will be an increase in crime as people struggle to pay off their gambling debts 🙄👀☹

[hotchilli]

12 hours ago, snoop1130 said:

Currently nestled in the House of Representatives for review, the proposal has sparked a heated debate. Civil society groups have rung alarm bells, expressing fears that loosening the reins on gambling might unleash a Pandora’s box of social issues if regulations aren’t strict enough. Rumbling concerns suggest that the glitzy project could end up lining the pockets of a select few powerful investors whilst leaving society to grapple with the fallout

Sounds familiar... Anutins legacy.

[rocketboy2]

That's good news.

Will bring lots of revenue and jobs .

Nice to see Thailand starting to put on big boy pants. 

 

Que the old farts posts, 

The end of the world, stuff for Thailand. 

[spidermike007]

Bad idea. The administrations here are so inconsistent with policy, anyone who was considering investing in one should see a psychiatrist. Billions could be lost. Just look at Cambodia and Sihanoukville for a lesson in this folly. 

 

 

[lordgrinz]

If you want to see Thailand's lower middle-class and poor-people sink further behind the Elite, this would be the quickest way to that goal.

[johnnybangkok]

So many doomsayers not taking into account that there's already thousands of ILLEGAL gambling establishment in Thailand mostly run by the police and/or army (I know of at least 10 in my area of Bangkok) so if someone wants to lose everything on gambling, there's already places to go; all the government are doing is legalising it to get the considerable tax revenues and increased jobs that come with these things.

However, if they want to play safe then the easiest thing is to only allow tourists and ban those without an international passport from entering. This would massively mitigate the 'we are creating gamlers' brigade in one easy step.  

[Daniel Cully]

55 minutes ago, johnnybangkok said:

So many doomsayers not taking into account that there's already thousands of ILLEGAL gambling establishment in Thailand mostly run by the police and/or army (I know of at least 10 in my area of Bangkok) so if someone wants to lose everything on gambling, there's already places to go; all the government are doing is legalising it to get the considerable tax revenues and increased jobs that come with these things.

However, if they want to play safe then the easiest thing is to only allow tourists and ban those without an international passport from entering. This would massively mitigate the 'we are creating gamlers' brigade in one easy step.  

If you ban Thai's you haven't solved a thing, since the thousands of illegal establishments will still operate. 

[connda]

The quintessential definition of psychotic:

Thai government yesterday - "Gambling is a blight on Thai society and all gambling dens should be found and the people running them throw in prison!!!" 

Thai government today - "Gambling casinos are good for Thailand and Thai society!" 

[connda]

1 hour ago, spidermike007 said:

Bad idea. The administrations here are so inconsistent with policy, anyone who was considering investing in one should see a psychiatrist. Billions could be lost. Just look at Cambodia and Sihanoukville for a lesson in this folly. 

 

 

You and I don't always agree, but I'm with you 100% on this! 

[thaibeachlovers]

4 hours ago, rocketboy2 said:

That's good news.

Will bring lots of revenue and jobs .

Nice to see Thailand starting to put on big boy pants. 

 

Que the old farts posts, 

The end of the world, stuff for Thailand. 

Not good for the losers and there will be plenty of them.

 

Legal casinos will be the end of Pattaya as we know it.

[thaibeachlovers]

3 minutes ago, connda said:

The quintessential definition of psychotic:

Thai government yesterday - "Gambling is a blight on Thai society and all gambling dens should be found and the people running them throw in prison!!!" 

Thai government today - "Gambling casinos are good for Thailand and Thai society!" 

Never underestimate the power of greed.

[Purdey]

I believe that household debt is already rather high in Thailand. 

Losing all your money at  craps and borrowing money to buy food may be expected. 

[lordgrinz]

Just now, Purdey said:

I believe that household debt is already rather high in Thailand. 

Losing all your money at  craps and borrowing money to buy food may be expected. 

 

From what I observe, households spend more on cigarettes, booze, gambling/lotteries, and new cars than anything else. Adding casinos will only throw the country (poor/lower middle-class) into even more debt.

[redwood1]

Rumbling concerns suggest that the glitzy project could end up lining the pockets of a select few powerful investors whilst leaving society to grapple with the fallout.

 

 

 

This is 100% exactly what will happen.....

[bkk6060]

Bigger China money coming here.  

Building casinos and gamblers.

Bali hi would be a perfect spot.

[Yagoda]

Vegas started as a mob cash cow, now its an economy in the desert. Everything can have growing pains. Ill take the increased amounts of things to do, glitz and hookers.

[crazykopite]

And there was me thinking gambling is banned in Thailand yet they have a twice monthly lottery and now Toni wants casino’s are both of these I mentioned not gambling I’m confused !