Currently, the legalizing of casinos has been a burning issue with governments of different countries as they seek to better their revenues. Thailand is no exception, as their cabinet has endorsed a draft bill to enable the legalizing of casinos to help improve their economy and increase tourism. This decision has come at this time when the growth of Thailand’s economy is slow and the government is in need of ways of generating more revenues and increasing foreign investments.
At the present, and as mentioned earlier, betting boxings and horse races are acceptable while casinos remain banned in Thailand. This new bill approved indicates a tremendous change in the country’s attitude towards gambling and entertainment. After the Cabinet meeting, Prime Minister Paetongtarn Shinawatra said that approval of the bill fits the government’s plan to develop “manufactured attractions” to boost sustainable tourism.
This is part of measures that seek to tackle the situation of a slowing economy as well as the escalating problem of illicit betting that has been on in the country for quite some time.
In the approved bill that has been drafted, casinos can be located in “entertainment complexes” alongside hotels, malls, convention halls, and possibly even theme parks. Thus, through the incorporation of gambling with family and tourism types of fields of interest, the government intends to attract more than just the gambling enthusiasts.
The casinos developed to attract the foreign and domestic markets will be private with strict policies of access. Foreigners will be allowed to visit the park free of charge, but the Thai people will be charged 5,000 baht, which is around $147.
Further, to restrict the population capacity in these casinos, people below the age of twenty years will not be allowed entry into these establishments.
Prime Minister Shinawatra stated that he believes that the legalization of casinos will create a significant addition to the country’s tourism industry, which is among Thailand’s major industries. She also pointed out that the bill would also assist in the fight against illicit betting, which remains a thorny subject that authorities have not been able to rein in.
The government aims at getting huge revenues in the form of taxes from legalizing the industry while creating employment opportunities in the hospitality and entertainment industries. The new government of Thailand, which assumed power in September, has assigned solving economic problems among its tasks. There have been serious setbacks to the tourist industry of the country because of the global crises and the local economic problems.
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The government seeks to exploit the increasing trend in the world market in accepting, promoting and patronizing gambling institutions that include casinos. Such change may help Thailand become a more appealing country for tourists and foreign investors.
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