Thailand Bets Big: Cabinet Approves Draft to Legalise Casinos

Thailand's cabinet approves a draft law for legalising gambling and casinos, aiming to boost tourism and economic growth. The law, slated for parliamentary review, seeks to regulate gambling within large entertainment complexes. Prime Minister Paetongtarn Shinawatra advocates the move despite conservative opposition.

Thailand's cabinet has taken a significant step by approving a draft law that could see the legalisation of gambling and casinos, an initiative targeted at stimulating tourism, job creation, and investment according to Prime Minister Paetongtarn Shinawatra.

The proposed legislation, which awaits parliamentary deliberation, envisions the establishment of gambling activities within vast entertainment complexes. Currently, casinos and most gambling forms are illegal in Thailand, although underground gaming and soccer betting are prevalent and handle substantial financial turnover.

Neighbouring countries like Cambodia, Singapore, and the Philippines have profited from their casino complexes, prompting Thai authorities to reconsider their stance to unlock tourism's full potential. The legalisation effort is anticipated to yield significant economic benefits, including a potential 5% to 10% rise in foreign visitors and substantial increases in tourism revenue.

(With inputs from agencies.)