The regulation of casinos in Thailand is about to happen and will change the landscape of gambling and large entertainment complexes. After a vote in the country’s House of Representatives, the proposal now goes to the cabinet for final approval. This shows a significant change in Thai politics, which had previously been more conservative regarding gaming and casinos.
Prime Minister Srettha Thavisin expressed strong support for the measure, highlighting the economic and tourism benefits the regulation will bring. Thus, with the tourism industry in focus, the legalization of casinos is expected to attract foreign investment and stimulate the local economy.
Currently, most forms of betting are illegal in Thailand, a country with a predominantly Buddhist and conservative society. However, the opening to casinos is in line with the country’s recent more liberal approach to revitalizing tourism after the pandemic.
Currently, most forms of betting are illegal in Thailand, a country with a predominantly Buddhist and conservative society. However, the opening to casinos is in line with the country’s recent more liberal approach to revitalizing tourism after the pandemic.
The proposed regulation of casinos in Thailand was the result of a study commissioned by the Thai parliament in 2023. It evaluated the net benefits of legalization in large entertainment complexes and estimated that the country could increase tourism revenues by around 12 billion dollars .
Therefore, the proposal suggests the inclusion of casinos in entertainment complexes or integrated resorts. The tax charged would be 17% of gross gaming revenue. Furthermore, the largest casino complexes must invest a minimum of 2.7 billion dollars in the country to receive approval.
Industry experts expect the approval of integrated resorts to happen within three years and spark the interest of companies such as MGM, Las Vegas Sands and Hard Rock Asia.
But there are significant challenges to regulating casinos in Thailand. The conservative opposition, including the country’s Buddhist clergy, and political corruption are obstacles to be overcome.
Thailand could be the 3rd gaming hub in the region
However, the change in attitudes towards gambling shows a positive sign for the future of the sports betting market in Thailand. Because the potential to become one of the world’s leading gaming jurisdictions is enormous.
Industry experts debate whether Thailand can become a reference in casinos in the region. The country’s strategic location, coupled with its already established tourism infrastructure, puts it in an advantageous position to attract players from around the world.
With the regulation of casinos in Thailand, the country could compete directly with destinations like Singapore and Macau. These are already known for their integrated resorts and world-class casinos.
Thus, with the support of the government, its Prime Minister Srettha Thavisin and interest from major casino brands, Thailand is well positioned to become a reference in gaming in the region and boost its economy through luxury tourism and high-end entertainment. high quality.
