Home Money & Business Business Thailand’s government greenlights draft legislation for casino legalization to enhance tourism and stimulate the economy

Thailand’s government greenlights draft legislation for casino legalization to enhance tourism and stimulate the economy

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BANGKOK — On Monday, Thailand’s Cabinet endorsed a draft legislation to legalize casinos, aiming to stimulate tourism and revitalize the sluggish economy.
Currently, certain types of gambling, like boxing and horse racing betting, are permitted, while casinos remain prohibited in the nation.
Following the cabinet meeting, Prime Minister Paetongtarn Shinawatra told the media that the proposed bill is expected to draw more investments and address the issues related to illegal gambling.
“This initiative will benefit society as a whole moving forward,” she stated. “It aligns with the government’s commitment to promote sustainable tourism, including man-made attractions, which has previously been discussed in Parliament.”

Paetongtarn noted that the Finance Ministry, which is backing the bill, will release additional details regarding the plans, which are being referred to as “entertainment complexes.”
The current administration, which began its term in September, has committed to prioritizing the country’s economic challenges.
The draft law, made available for public review online, stipulates that casinos could operate within a comprehensive complex that includes other facilities such as hotels, convention centers, shopping malls, or theme parks.
Access to the casinos will be restricted to individuals over 20 years of age, with foreigners granted free entry while Thai citizens will be required to pay an entrance fee of 5,000 baht (approximately $148).

The draft bill will undergo a review by the Office of the Council of State before being presented to Parliament for discussion and a vote by members of both the House of Representatives and the Senate, as stated by government spokesperson Jirayu Hoangsub.
“Isn’t it time for Thailand to recognize that both legal and illegal gambling establishments exist in the country and in neighboring regions?” he remarked. “This initiative is designed to boost revenue in the tourism sector.”

Tourism remains a critical component of Thailand’s economy, consistently highlighted as a key focus for various governments in their efforts to enhance economic growth.