Thailand takes first step to legalize casinos to aid economy

Thailand takes first step to legalize casinos to aid economy

Article brief provided by Bloomberg News
  • Suttinee Yuvejwattana, Bloomberg News
March 28, 2024 12:59 PM
  • Suttinee Yuvejwattana, Bloomberg News

Thailand took the first step toward legalizing casinos, as the government looks to attract high-spending tourists to support Southeast Asia’s second-largest economy while also checking revenue leak from illegal gambling.

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The nation’s 500-member House of Representatives Thursday voted in favor of a study by a panel of lawmakers to allow casinos to be housed within large entertainment complexes. A total of 253 out of 257 lawmakers present voted in favor of the plan.

Deputy Finance Minister Julapun Amornvivat said the study will be forwarded to the Cabinet for a decision on whether legalizing casinos is “suitable for the nation.”

Thailand is the latest nation to consider competing for a pie of the global casino industry, which IBIS World estimates generated $263.3 billion in revenue last year.