Thailand to legalize gambling with its first legal casino
Despite gambling's unstable reputation in the Buddhist nation, Thai citizens showed their support for gambling legalization in Thailand.
Thailand is a Southeast Asian...
Thailand’s casino legalization to boost monopoly risks
Despite its support for the casino legalization plan in the country, Thailand’s famous coalition party, Bhumjaithai, warns about monopoly risks.
In Southeast Asian countries, such as Thailand, casinos have an unstable reputation. Recently, the Thai government announced that it is considering the development of three casinos in Bangkok and will have seven integrated resorts throughout the country.
The country’s coalition party, Bhumjaithai, has always been supporting the idea of having a major entertainment complex, including casinos. However, the party is confident that the project will create monopoly issues and will allow one or two companies to dominate the market.
During a recent joint session of the House of Representatives and the Senate, where the government’s casino plan was debated, Korrawee, an MP from Ang Thong Province, emphasized Bhumjaithai’s concerns and argued against the establishment of such a complex in a smaller city. He noted the importance of the government’s approach to this matter and asked for a detailed discussion about both the advantages and disadvantages of the casino legalization in the country.
Casinos’ evolution in Thailand
Since early 2024, Thailand has been taking steps to beat illegal gambling in the country.
In August, the country submitted the casino law draft. This caught the attention of Wynn Resorts and the company targeted Thailand for its new casino resorts. Recently, the country also announced that soon it will legalize gambling with its first legal casino.
This plan reflects a broader strategy to boost tourism and economic growth but also raises significant concerns about market concentration and its impacts on local economies.
FAQs
Is gambling legal in Thailand?
Gambling in Thailand is currently illegal; however, it is expected to be changed to legal very soon, with the debut of the country’s first-ever legal casino mega-entertainment complex.
Why is Thailand considering legalizing casinos?
The government aims to legalize casinos to boost the economy, create jobs, increase state revenues, and attract more tourists. Legalization would also offer a legal alternative to underground gambling.
Why is Bhumjaithai Party concerned about the casino legalization plan in Thailand?
Bhumjaithai Party, despite supporting casino legalization, is concerned about potential monopoly risks. The development of large entertainment complexes, including casinos, might lead to one or two companies dominating the market.
Share:
Thailand: Wynn’s target for a new casino
Wynn Resorts plans to pursue casino opportunities in Thailand after its progress in the UAE.A previously released draft casino law by the country's government allows the...
