During a recent public-comment period, 80% of residents in attendance expressed support for the proposal introduced under former Thailand PM Srettha Thavisin. Srettha got the boot in August, after appointing an ex-con to his cabinet.
The new prime minister, Shinawatra, is expected to continue the momentum toward Singapore-style “entertainment complexes” with casinos.
Like Singapore, Thai casinos would emphasise non-gaming, with theme parks, restaurants, retail, concert arenas, meeting space, hotels and other attractions. Gaming floors would occupy 3%-10% of total floor space.
Gambling is currently illegal in the largely Buddhist kingdom, with the exception of horse racing and a government-sanctioned lottery. But black-market gambling in Thailand is widespread.
Former PM Thaksin tips interest in casino resorts
Paetongtarn, who officially took office 6 September, has not explicitly come out in favor of casino resorts. But her father, a former Thai prime minister, endorsed legal casinos, and that was the signal industry observers were looking for.
In public comments 22 August, billionaire Thaksin Shinawatra echoed Srettha’s vision for a new industry to lift the economy and boost tourism. Casinos are expected to attract globe-trotting big spenders, like Chinese mainlanders. But a study suggests 90% of patrons will be Thai nationals.
Thaksin was prime minister of Thailand from 2001-06. Ousted by a military coup, and facing charges of tax evasion and corruption, he fled the country. Shinawatra lived in self-imposed exile, mostly in London, for 15 years.
He returned last month, and in short order was jailed, released, and pardoned. In a stunning turnabout, he was there to see his youngest daughter anointed prime minister last week.
Thaksin is said to be the real power broker of the family. On the website of the Council on Foreign Relations, bloggers Joshua Kurlantzick and Pavin Chachavalongpun said the “politically inexperienced” Paethongtarn will “either be a puppet of her father or the conservative elites.”
Focusing on a stronger economy
Meanwhile, Paetongtarn promises to rebuild the country’s sluggish economy, which has not yet fully recovered from the Covid-19 pandemic.
A 2023 government study found that entertainment complexes could boost tourism revenue by 406.6bn baht (£9bn/€10.87bn/$US12bn) in the first year. Five casinos are expected to be licenced: two in Bangkok, one each in Chiang Mai and Phuket, and one in the Eastern Economic Corridor (Chachoengsao, Chonburi and Rayong provinces).
Thailand deputy finance minister Julapun Amornvivat says feedback from the public will inform the next iteration of the draft bill. The new bill will go to the cabinet. If approved there, it will proceed to the Council of State for review, then back to the House of Representatives.
Original article: https://igamingbusiness.com/casino/integrated-resorts/under-new-pm-thailand-inches-toward-legal-casino-industry/
