Thailand Moves to Legalize Casinos to Boost Tourism and Economy

Thailand’s cabinet has approved a draft law to legalize casinos and gambling aimed at boosting tourism and the economy. Prime Minister Paetongtarn Shinawatra announced on Monday that the proposed law, which will now be sent to parliament for review, would allow gambling to take place in large-scale entertainment complexes.

Economic Benefits and Job Creation Highlighted

The Thai government argues that the absence of regulated casinos has cost the country valuable revenue and tourism opportunities.

Deputy Finance Minister Julapun Amornvivat highlighted the economic benefits, predicting that legalizing gambling could increase foreign tourist numbers by 5–10% and boost tourism revenue by 120–220 billion baht (£3–£6.3 billion). He also mentioned that the plan could create 9,000–15,000 new jobs.

Analysts from Citigroup project that Thailand’s gaming market could generate annual gross revenue of $9.1 billion once fully established, positioning it as the world’s third-largest gaming market behind Macau and Las Vegas.

This figure would place Thailand ahead of Singapore, where Marina Bay Sands and Resorts World Sentosa collectively earned $3.8 billion last year

Addressing Public Concerns and Conservative Opposition

The push for legalization comes after years of debate and resistance from conservative groups in Thailand, a majority-Buddhist country.

However, the ruling party has strong support from influential figures, including former Prime Minister Thaksin Shinawatra, the billionaire father of Paetongtarn, who has long advocated for regulated gambling.

Aligning with Regional Peers

Neighboring countries like Cambodia, Singapore, and the Philippines have benefited significantly from legal casino operations.

The Thai government believes that legalizing casinos will help Thailand capitalize on its tourism potential and strengthen its position as a leading tourist destination.

Do you think legalizing casinos will significantly boost Thailand’s tourism and economy? Share your thoughts!