The government of Thailand has set a goal to double foreign tourism to 80 million arrivals by 2027. That could spur lawmakers to finally legalize casino gaming in the kingdom. And here’s more motivation: according to the Malaysian Star, a new study says integrated resorts (IRs) with gaming could boost tourist revenues by more than half.
A panel of lawmakers developed the study, which was submitted to parliament on March 28. It shows that average tourist spending could grow by 52 percent to 65,050 baht (US$1,790) per trip, for as much as 448.8 billion baht ($12.3 billion) in new revenues, boosting the country’s gross domestic product growth by 1.16 percentage points.
Prime Minister Srettha Thavisin supports the move, which could draw Macau concessionaires including Galaxy Entertainment Group Ltd. and MGM Resorts International. Per the Star, those operators are weighing the potential of IRs in Thailand “as a hedge against uncertain prospects” in the Chinese special administrative region (SAR).
The IRs would offer luxury hotels, restaurants, retail and other non-gaming attractions, said Deputy Finance Minister Julapun Amornvivat. “The goal is to establish a comprehensive entertainment venue and to promote tourism in a new way to increase income for the country and solve the problem of illegal gambling,” he said in comments posted on X, the social platform formerly known as Twitter.
According to Inside Asian Gaming, Thai Labor Minister Phiphat Ratchakitprakarn also favors IRs, which could create up to 50,000 jobs nationwide—10,000 for each of five resorts.
“Legalizing activities such as gambling in casinos will create more benefits for the economy,” he said. “Having casinos will not only lure foreign tourists, but local tourists won’t have to travel abroad to engage in such activities.”
In a November 2023 article on Asia Gaming Brief, gaming industry veteran Daniel Cheng wrote that the government see IRs as “a means to future-proof its all-important tourism sector against increasing competition in the region and to counteract rampant illegal underground casino operators.”
Officials are looking at the Bangkok metro area as a host city, along with the southern provinces’ tourism belt; the northeast region; and the eastern seaboard area.
“Given the pace of progress in Thailand,” wrote Cheng, “casino legalization could potentially occur before the end of 2024, making it a real possibility for the first Thai entertainment complex to open before Japan’s inaugural integrated resort in Osaka.”
The panel has recommended measures to prevent and curb problem gambling.
