GGRAsia – Pheu Thai Party reiterates support for casino legalisation

Pheu Thai Party reiterates support for casino legalisation

Sep 23, 2024 Newsdesk Latest News, Rest of Asia, Top of the deck

Thailand’s Pheu Thai Party, the main force within the country’s current coalition government, has once again underscored its backing for the legalisation of casinos in the nation, viewing it as a key opportunity for economic growth.

In a statement posted over the weekend on its official Facebook account, the party reiterated its commitment to advancing plans for so-called “entertainment complexes”, arguing that these would help bring Thailand’s “underground economy” into the formal tax system. Such a move, the party claimed, would generate new revenue streams for the government.

The Pheu Thai Party suggested that these revenues would be directed towards improving the welfare of Thai citizens by funding education, public health, and essential public services.

The term “entertainment complexes” in Thailand refers to large leisure resorts that are expected to include casino venues, among other attractions.

Earlier this month, Julapun Amornvivat, Thailand’s deputy finance minister, said the country would move ahead with plans for legalising casinos. The official, described as a key member of the Pheu Thai Party, stated that a revised version of a draft bill to legalise and regulate casino businesses would be submitted to the country’s cabinet for consideration by coalition partners.

In its recent statement, the Pheu Thai Party highlighted Thailand’s potential to expand its ‘fun economy’ by promoting new forms of tourism. “One of the ways to achieve this is by integrating legal casino and gambling businesses into the system, governed by clear standards, legal oversight, and with proper collection of taxes,” the party added.

The Pheu Thai Party further stated that these large-scale entertainment complexes would encompass not only gaming venues but also shopping malls, five-star hotels, restaurants, bars, convention centres, health centres, sports facilities, amusement parks, and areas promoting Thai culture.

The party emphasised that these complexes should be managed by “professional operators” with substantial experience in the sector or related fields.

To ensure proper oversight, Pheu Thai stressed the need for a “reliable” gambling regulatory agency and a “comprehensive mechanism” to mitigate the potential negative social impacts of gambling. A special fund should be created to support initiatives aimed at addressing gambling-related harm, including “rehabilitation” programmes and “compensation” for those affected, it added.

The Pheu Thai Party argued that legalising and promoting integrated entertainment complexes in Thailand, in compliance with the law, would attract more foreign tourists. This, in turn, would bolster the domestic tourism sector and generate revenue for local businesses.

The establishment of these venues could also lead to significant job creation across various sectors, providing employment opportunities for Thai citizens, the party stated.

According to a first draft of the bill to legalise and regulate casino businesses, each entertainment complex would require at least THB100 billion (US$3.04 billion currently) in investment.