Thailand's Gamble: Paving the Way for Casinos and Tourism Boom

Thailand's cabinet has approved a draft law to legalize casinos and entertainment complexes, aiming to boost tourism and the gaming industry. The law will restrict Thai access to casinos, potentially increasing state revenue and foreign investment. The plan, however, has met with political opposition and social concerns.

Thailand's cabinet has taken a bold step towards transforming its tourism industry by approving a draft law to legalize casinos and entertainment complexes. Aimed at drawing more tourists and creating a robust gaming industry, the decision marks a significant policy shift in a country where gambling is largely prohibited.

The draft law introduces stringent conditions for Thai citizens to access casinos, including a 5,000 baht entry fee and a requirement for at least 50 million baht in bank deposits. These measures effectively limit the ability of lower-income Thais to participate, despite earlier assurances that asset requirements would be eased to ensure broader access.

This legislative development seeks to attract 100 billion baht in new investments and an uptick in foreign visitors by 5% to 10% annually. However, opposition persists, with concerns over potential social problems and political objections. Tourism, a critical sector of Thailand's economy, could see a substantial boost despite these challenges.

(With inputs from agencies.)