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Poker tournaments in Thailand? Maybe soon
Do you like to visit Thailand? Do you like to play poker tournaments or otherwise have fun in casinos? Then this article is just for you. In Thailand, current gambling and casinos are illegal, but they are nevertheless very widespread. The government has been fighting this illegal business, but unsuccessfully, so it has decided to take a decisive step.
"We have to admit that there is illegal gambling in the country, we are trying to get rid of it, but it cannot be eradicated, so we have to rethink it and we see that it is time to do so," Deputy Finance Minister Julapun Amornvivat told reporters.
And so the cabinet has on the table an amendment to the law that will not only legalize gambling, but even build several casino resorts.
Let's take a closer look at the whole thing
A few days ago, the Thai government cabinet approved a House of Representatives report that recommends legalizing gambling and building casino resorts. As many as 253 of the 257 members present were in favour of the proposal. However, before the cabinet approves the change in legislation, the Ministry of Finance has been instructed to conduct a study on the feasibility of the investment within 30 days. In addition, the proposal will be commented on and an open discussion will be held with the public.
With this move, the government wants to attract more tourists to Thailand and also expects an increase in casino tax revenue for the budget. In addition, employment in the country is also expected to increase.
The deputy government spokeswoman noted that integrated casino resorts are a key element of the entertainment economy that the government is pursuing, and includes tourism, sports and entertainment businesses. The Cabinet proposes that the government should not be the sole investor in casino resorts, but that these projects should be financed by private companies, in exchange for concessions.
Benefits for the economy
Of course, there will be new casino taxes, which should be at 17 percent, as well as various regulations on the casino sector. Politicians are proposing to build casino resorts within 100 km of airports to attract as many foreign visitors as possible. Thailand expects 40 million tourists this year, but wants to increase that number to 80 million by 2027, and legalizing gambling is expected to help it do that. The government is therefore expected to approve the legalisation of gambling and casinos during the current parliamentary term.
Each casino resort is expected to require an investment of at least $2.7 billion. Maybank analysts have said that up to 8 casino resorts could be approved, but the Chonburi Real Estate Association believes that if up to 20 resorts were approved, more than 30,000 new jobs would be created and the economy would grow by 4 to 5 percent annually.
The legalisation of gambling could be approved in the next few months, but the first casino resorts could not open until 2029. Companies such as Las Vegas Sands and Genting Singapore are said to already be interested in Thailand as a market and gaming licences, but interest is also expected from Galaxy Entertainment and MGM Resorts International. These companies also have resorts in Macau and Thailand would like to compete with this Asian gaming hub.
Resistance from critics
As it is usually the case, there are supporters and detractors everywhere, and it is no different in this case. The news of the legalisation of casinos has been met with objections from a large group of academics from Chulalongkorn University. These have warned politicians that legalising casinos in Thailand could do great harm, and that they disagree with the claim that legalising casinos is part of the government's economic agenda.
Thailand has wanted to legalise gambling in the past, but each attempt by past governments has jumped the gun after much public opposition. In 2021, an opinion poll was taken in which 47% of those surveyed were against legalizing gambling.
As a final note, in Southeast Asia, casinos have already been legalised in places like Cambodia, Singapore, Myanmar and the Philippines, and there are stops at various poker festivals. It is thus very likely that, if the legislation is passed, many interesting poker events will be launched in Thailand.
Source - asgam.com, reuters.com, bangkokpost.com, casino.org, casinobeats.com, thestraitstimes.com, herzindagi