Thailand Government supports casino legalisation with precautions

Sudhanshu Ranjan September 19, 2024

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Thailand Government supports casino legalisation with precautions

The Thai government is considering legalising casinos but there are challenges regarding the potential for monopolies to dominate the casino industry. The ruling coalition government, particularly the Bhumjaithai party, has long envisioned the development of casinos as part of a broader plan to boost the economy.

Bhumjaithai’s stance on casino legalisation

The Bhumjaithai Party supports the idea of legalising casinos. However, its members have expressed concerns, especially regarding the risk of monopolies. Korrawee Prissananantakul, an MP for Ang Thong province, spoke during a joint session of House of Representatives and the Senate, discussing the government’s casino plan and the potential dangers of allowing a few large companies to dominate the market.

According to him, this could lead to an uneven distribution of wealth, where a small group of investors would reap most of the benefits, leaving ordinary citizens behind. Rather than leaving the casino industry in the hands of private investors, the Bhumjaithai Party has suggested that the government itself could invest in and operate these casinos. By doing so, the government could ensure that a larger portion of the revenue is used to benefit the public.

Another concern raised by the Bhumjaithai Party is the possibility of developing casinos in smaller cities. Korrawee Prissananantakul has warned that building entertainment complexes in less populated areas could lead to an unequal distribution of income, with wealthy investors benefiting disproportionately while residents see little to no improvement in their quality of life.

Under the leadership of Prime Minister Paetongtarn Shinawatra, the casino project has gained momentum. The Pheu Thai Party, with 17 of the 35 cabinet positions, is at the forefront of pushing this initiative forward.

Benefits of casino legalisation

According to previous reports, the Thai government plans to develop three casinos in Bangkok and seven integrated resorts across the country. These projects could bring in substantial revenue, with estimates reaching over approximately $30 million annually from concessions alone. This would add a significant boost to Thailand’s already thriving tourism industry.

Legal casinos could attract millions of tourists, create thousands of jobs, and provide a significant revenue stream for the government. These funds could be used for infrastructure, healthcare, and education, improving the quality of life for Thai citizens.

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