On April 8, members of the Thai cabinet approved a House committee report that favors a legal casino industry. According to Inside Asian Gaming, the Ministry of Finance now has 30 days to conduct a separate feasibility study.
Any casino legislation would require public approval, said government spokeswoman Kenika Ounjit, who added that integrated resorts (IRs) with casinos are key to the “fun economy” envisioned by the government.
Cabinet members recommended a concession model like that in Macau, and said IRs should be located close to international airports to bring in foreign visitors.
Last month, the House of Representatives voted 253-4 for the plan, which could move with relative speed. Maybank Investment Bank predicts that the first IRs could open as early as 2029—a year before Japan’s first IR is scheduled to debut in Osaka.
According to the Bangkok Post, a group of university academics isn’t convinced that casinos will bring economic benefits, and say they could bring social costs that are not being adequately considered. Maybank countered that they could generate $5.14 billion in annual revenue, equivalent to 1 percent of Thailand’s GDP.
Another study suggests that IRs could increase average tourist spend by 52 percent to $1,790 per trip, boost overall tourism revenue by $12 billion and also disable rampant black-market gaming.
