Thailand’s ruling Pheu Thai Party is championing its casino-entertainment complex initiative as a means to legalize underground gambling and generate tax revenue for the government.
According to a statement on Pheu Thai’s webpage cited by the Bangkok Post, the party asserts that this project could significantly contribute to the national economy, with potential tax revenues surpassing 50 percent of GDP, thereby supporting education and other vital initiatives.
Entertainment complexes featuring casinos are positioned to help the country engage with the burgeoning fun economy, estimated at $13.7 trillion. This initiative is part of the broader policy outlined by Prime Minister Paetongtarn Shinawatra in parliament on September 12th.
Historically, efforts to legalize such economic transactions have faced resistance, but recent government studies suggest a growing openness to the concept. The House committee’s report emphasizes that the fun economy—which encompasses tourism, sports, entertainment, and the MICE (meetings, incentives, conferences, and exhibitions) sectors—has been steadily expanding.
The global market for casino-based entertainment was valued at approximately $1.5 trillion as of 2022, with projections indicating it could rise to $2.2 trillion by 2028. This growth underscores the potential for significant income generation for the country through proper legalization and taxation of casinos.
The government is advancing legislation to permit the operation of casinos within these entertainment complexes, with the first casino anticipated to launch as early as 2029.
The Finance Ministry has completed the draft of the Entertainment Complex Act, which will undergo a public hearing as stipulated by the constitution. Following this, the bill will be submitted to the cabinet for review.
The proposed legislation outlines 65 sections, stipulating that operators must obtain a license valid for up to 30 years, with an initial registration fee of THB5 billion ($152 million) and an annual payment of THB1 billion ($30 million).
Assessments of each complex will occur every five years, and licenses may be renewed for an additional decade. Individuals under 20 years old will be prohibited from entering these venues, while Thai citizens will be required to pay a THB 5,000 ($151) entrance fee.
A policy board, chaired by the prime minister, will be established to govern the regulations of these gaming complexes. Estimates suggest that the project could generate at least THB12 billion ($364 million) in tax revenue in its first year alone.
Five locations have been identified as potential sites for the complexes: two in Bangkok and one each in the Eastern Economic Corridor, Chiang Mai, and Phuket. Meanwhile, some reports also claim that the new government may develop up to seven casino hotels, three of which will be located in the capital city of Bangkok.
