Thailand is moving forward with its plan to legalize casinos by 2025 as part of a broader plan to boost tourism, attract foreign investment, and position itself as a major player in the global gaming industry. The government is working on an “entertainment complex” bill that integrates gaming into larger entertainment venues, with initial approval expected in mid-2025.
The law should be passed six months from now at the earliest, Prommin Lertsuridej, Secretary-General to Prime Minister Paetongtarn Shinawatra, told Bloomberg News. If approved, the first integrated resorts could open by the end of 2025.
The proposed legislation emphasizes a balanced model, allowing only 5%-10% of floor space in entertainment complexes to be allocated to gaming activities. The remaining space will focus on entertainment and tourism, seeking to reinforce Thailand’s image as a global travel destination.
Three venues are proposed for Bangkok, leveraging the city’s strategic location and economic potential. The sector is forecast to generate up to $9.1 billion in gross gaming revenue annually, potentially making Thailand the world’s third-largest gaming market after Macau and Las Vegas, according to analysts from Citigroup.
The initiative enjoys backing from the Prime Minister, who has prioritized boosting the entertainment and tourism sectors. The entertainment venues will benefit tourism rather than just being gambling outlets, according to local media reports.
The Prime Minister’s father, former PM Thaksin Shinawatra, has also endorsed the move, emphasizing its potential to stimulate economic growth and attract international investors.
Thailand’s ambitious plans place it in direct competition with Japan, another emerging market in the casino industry. Japan’s $10 billion Osaka casino project is set to launch by 2030, but Thailand’s timeline suggests it could establish its gaming footprint sooner.
Original article: https://www.yogonet.com/international/noticias/2024/11/19/85855-thailand-moving-forward-with-plans-to-legalize-casinos-by-2025-targeting-global-gaming-market
