Thailand's cabinet green-lights casino legislation in a closed-door session.
Thailand Aims High with Casino Resorts Bill
Thailand has taken a bold step towards establishing casino resorts and entertainment complexes, to create a fully-fledged gaming industry. Approved by the cabinet, the bill will be tabled in Parliament in July. However, it needs parliamentary approval, Senate endorsement, and the King's seal before becoming law.
This move arrives swiftly after Prime Minister Shinawatra survived a no-confidence vote in parliament. These entertainment hubs are anticipated to invigorate tourism and draw investment. They'll offer a mix of water parks, amusement parks, shopping malls, concerts, festivals, exhibitions, sporting events, and casinos.
Homegrown Gamblers' Limitations
The draft law imposes restrictions on Thai citizens keen on gambling. The initial plan includes a 5,000-baht entry fee, but Deputy Finance Minister Julapun Amornvivat hints it may be dropped as it could exclude a significant portion of the population. The draft will be tabled as-is, with potential modifications to be addressed later in the legislative process.
The draft proposes a 10% casino space restriction in the entertainment complexes. Locations and regulations are yet to be finalized, but public support for the casino bill is robust, according to opinion polls.
Lawmakers Unite for Discussion
The Ministry of Finance highlights that the law's enactment could lead to an influx of tourists, with each visitor expected to spend around $1,500. This increase in tourism and revenue could substantially boost the economy, potentially raising tourism revenue from $3.5 billion to $7 billion.
Employment opportunities across various sectors are expected to surge, providing jobs for thousands. Investment is likely to soar beyond $2.9 billion as international and domestic investors capitalize on the entertainment complex development.
Thailand may also witness additional annual revenue between $354 million and $1.1 billion once the law is enacted. Following parliamentary debate, the bill will move to the Senate for approval and the King's final endorsement.
Don't miss out on the Manila magic at SiGMA Asia, happening June 1-4, 2025, with 20,000 delegates, 3,800 operators, and 350+ speakers on the world's biggest iGaming stage!
Southeast Asia
Corporate
The Global iGaming Community Awaits at SiGMA Asia, June 1-4 2025! 🌟
Overall
The proposed casino resorts in Thailand project promises substantial economic benefits and job opportunities:
- GDP Boost: Potential increase of 0.2%-0.8% once operational, and 0.23% during construction.
- Annual State Revenue: Ranges between 12 billion and 40 billion baht.
- Gross Gaming Revenue: Projected to be approximately one percent of Thailand's GDP.
- Employment Opportunities: Anticipated to create 9,000-15,000 jobs.
- Sector Contribution: The tourism and service sectors, which will be significantly impacted, contribute about 18% to Thailand's GDP currently.
- Investment: Estimated to be around 100 billion baht ($3 billion).
- Interests and Timeline: Major players like Wynn Resorts and MGM China have expressed interest. The legislative process is projected to start in July 2025, potentially opening by 2030-2031.
Thailand's proposed casino resorts and entertainment complexes are anticipated to offer a diverse range of events, including sporting events, in addition to water parks, amusement parks, shopping malls, concerts, festivals, exhibitions, and casinos.
The anticipated employment opportunities and economic growth from the casino resorts could create a vibrant sports scene within Thailand, potentially attracting international sporting events to the country.
