Southeast Asia's second largest economy considers legalizing casinos to elevate tourism

By Hoang Vu August 5, 2024 | 01:35 am PT

Tourists visit the Grand Palace in Bangkok, Thailand, on Jan. 7, 2023. Photo by Reuters

Thailand is pushing ahead with its plan to legalize casinos as the Southeast Asia's second largest economy expects to lift tourism revenue by about US$12 billion.

The Council of State, Thailand’s legal agency, is collecting public feedback for its draft rules that grant casinos with an initial license for 30 years and with an option of renewing for another 10 years, Bloomberg reported.

Under the draft rules, the casinos will be put in large entertainment complexes along with hotels, convention centers and amusement parks, among others.

Media reports earlier have said Prime Minister Srettha Thavisin hoped legalizing casinos would help attracting foreign investment and boosting its tourism revenues.

Last year Thailand generated tourism revenues of 1.2 trillion baht (US$35 trillion).

Casinos are illegal in Thailand and the only gambling allowed is at state-controlled horse races and through the lottery. But illicit gambling, football betting, underground casinos and other lotteries are rife, Reuters reported.

Thailand received more than 20 million foreign tourists between January and July, surging by 34% year-on-year.