Thailand is actively working on legalizing casinos to make the country more attractive to tourists, attract foreign investment, and increase tax revenues. In turn, this should help reduce the number of illegal casinos. Gambling has been banned in Thailand since 1935, except for betting on horse racing and lotteries.
Thailand’s State Council has released draft regulations for discussion until August 18, which will grant casino licenses for 30 years with the possibility of renewal for another 10 years. A special commission and agency for controlling this industry will also be established.
The casinos will be placed in large entertainment complexes, hotels, and parks and can only be operated by companies with registered capital of at least 10 billion baht (about $283 million) registered in Thailand.
Thailand wants to take its share of the global casino market, where last year’s revenue totaled $305.8 billion. According to analysts, due to the legalization of casinos, the country can increase tourism revenues by about 12 billion dollars.
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