Thailand is moving forward with plans to legalize casinos as part of a broader strategy to enhance its appeal as a prime tourism destination and attract billions of dollars in foreign investment and tax revenue.
The Council of State, Thailand’s legal advisory body, has released draft regulations for public feedback until August 18. These rules outline the framework for casinos, which would initially be granted a 30-year license with the option to renew for an additional 10 years. The casinos would be integrated into large entertainment complexes that would also feature hotels, convention centers, amusement parks, and other attractions.
Thailand is positioning itself alongside the United Arab Emirates and Japan in the race to tap into the global casino industry, which generated $263 billion in revenue in 2023, according to Ibis World. Major industry players like Galaxy Entertainment Group and MGM Resorts International are exploring the possibility of opening casino resorts in Thailand as a way to diversify beyond Macau. Additionally, Las Vegas Sands has expressed interest in expanding into Thailand if the opportunity arises.
Prime Minister Srettha Thavisin, who assumed office less than a year ago, has been a strong advocate for policies aimed at attracting foreign investment. He supports the legalization of casinos as a means to improve oversight and ensure proper tax collection.
Thailand’s House of Representatives has already endorsed a study by a panel of lawmakers that recommended establishing legalized casinos within large entertainment venues to attract high-spending tourists. The study suggests that legalizing casinos could boost Thailand’s tourism revenue by approximately $12 billion, particularly by housing them within expansive entertainment complexes.
While most forms of gambling are currently illegal in Thailand—a majority-Buddhist and conservative society—the move to open casinos aligns with the country’s recent shift towards a more liberal stance in an effort to revive its tourism industry post-pandemic. In 2022, Thailand became the first country in Asia to decriminalize cannabis, and it is on track to become the first in Southeast Asia to legalize same-sex marriages.
The draft bill specifies that these large entertainment venues should be located in government-designated areas and operated by companies registered in Thailand with a minimum paid-up capital of 10 billion baht ($375.7 million). It also proposes the creation of a comprehensive entertainment venue policy panel, led by the prime minister, along with an agency to regulate the new industry.
Thai officials have previously identified popular tourist destinations such as Greater Bangkok, Phuket, Chiang Mai, and Chonburi (which includes the beach resort of Pattaya) as potential locations for these entertainment complexes.
Tourism is a vital sector for Thailand, accounting for about 20% of total employment and roughly 12% of the nation’s $500 billion economy. As of July 2024, foreign arrivals have surged by 34% compared to the same period in 2023, reaching over 20 million visitors.
