Thailand Cabinet Approves Historic Casino Legalization Bill

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Above: Thailand's Prime Minister Paetongtarn Shinawatra (R), daughter of former prime minister Thaksin Shinawatra, arrives to deliver the cabinet policy speech at the parliament chamber in Bangkok on Sept. 12, 2024. Image copyright: Chanakarn Laosarakh/Contributor/AFP via Getty Images

The Facts

  • Thailand's Cabinet approved a draft bill on Monday that would legalize casinos within entertainment complexes, marking a significant shift in the country's gambling policy, which has banned most forms of betting since 1936.

  • The law would require casinos to be housed within larger venues featuring hotels, convention centers, and amusement parks, with gaming areas limited to 5% of the total complex area. Operators must maintain a minimum paid-up capital of 10B baht ($288M).

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The Spin

Narrative A

This bill would transform the country into a global gaming powerhouse, with some estimating its gross gaming revenue to be $9.1B, making it the third-largest market worldwide. The tourism boost would further attract major international operators like MGM and stimulate local investment. Revenue from licenses, taxes, and integrated entertainment complexes would also drive economic growth, creating much-needed jobs.

AGB

Narrative B

Thailand must not rush into this without implementing robust safeguards, without which gambling risks fueling tax evasion, money laundering, and human trafficking. With over 4M young people already impacted by online gambling, unchecked legalization could also worsen financial and health problems. The government needs strict age restrictions, reliable operator screening, and addiction prevention measures to mitigate long-term social harms.

Bangkokpost

Metaculus Prediction