Thailand Closer To Legalizing Land Based Casinos

Summary

• Parliamentary Committee submits report to National Assembly push for casino legalization
• Committee says legalized casinos will boost tourism and bring in more revenues
• Public poll suggests general public are in favour of land based casinos

The push to get land based casino style gambling legalized in Thailand is getting more momentum as a Parliamentary Committee (PC) submitted a report this week to the National Assembly recommending that the Thai government legalized casino style gambling.

Thailand Closer To Legalizing Land Based Casinos

The push to legalize land based casinos in Thailand has gained momentum quickly in 2022 as Thai legislators look for new avenues to bring in much needed revenues to the country. Thailand thrives on its tourism industry which took a massive hit during the last two years due to the global COVID-19 pandemic.

While tourism numbers are slowly picking up, the ruling Thai government knows that it needs to do more to boost tourism and give its sluggish economy a strong boost. The best solution that is currently being discussed in parliament is a proposal to legalize entertainment venues that will house casinos.

Legislator Pichet Chuamuangphan, from the Pheu Thai Party vice-chairman of the PC said that the plan is to bring in more foreigners to Thailand and get them to spend more. One of the biggest ways they can accomplish this is through a legalized land based casino industry which is expected to bring in close to $10.9 billion in revenue for the Thai government in gaming taxes.

The current proposal to legalize casino style gambling in Thailand looks to levy a 30 percent gaming tax on licensed operators. Casino style gambling will be offered to both foreigners and locals but locals will have to meet stringent requirements before being allowed entry to a casino. One of the restrictions is that locals will have to show a bank balance of a minimum of THB 500k to gain access.

General Public Open To Land Based Casinos

The proposal is to legalize 5 land based casinos throughout the country, with top tourist spots such as Bangkok and Phuket being potential locations. One of the keys to getting casino legalization approved in Thailand is to get public support.

The PC stated that based on a recent survey where 3,296 Thais were polled; more than 80 percent of them were in favour of legalized land based casinos.