Thailand to open casino to attract Indians..!?

Thailand has decided to legalize casinos. Through this, it plans to turn the country into a major tourist destination to attract crores of foreign investment and collect taxes. Various initiatives have been taken to curb the illegal gambling industry in the country by increasing employment and increasing income. The rules for legalizing casinos stipulate that casinos be licensed for an initial period of 30 years followed by a 10-year extension. Public comments on this are being collected till august 18. There are also plans to set up casinos in hotels, convention centers, amusement parks, etc. In this respect, thailand is set to join the ranks of the United Arab Emirates and Japan, which account for a large portion of the global casino industry. international casino gambling generated $263 billion in revenue last year.
Companies such as Galaxy Entertainment Group Limited and MGM Resorts international have shown interest in opening casinos in Thailand. Macau and Las Vegas Sand Corp are also interested. Las Vegas Corp said last month it was open to opening a casino in thailand if the opportunity presented itself. The country's Ministry of Tourism has said that 17.5 million foreign tourists will visit thailand in the six months from 2024. This is an increase of 35 percent over the same period last year. Tourist arrivals generated an income of 22.42 billion dollars.China, Malaysia, and indians are coming in large numbers. Also, thailand has provided visa-free programs for tourists. indian and Taiwanese nationals will not require visas till november 11. Casinos are currently illegal in Thailand. Gambling is allowed only on state-run horse races and lotteries. However, there is a lot of illegal soccer betting, hidden casinos, and illegal lotteries going on. Experts say that the casino market will increase the number of tourists in Thailand. It will give tough competition to Macau, the world's biggest gambling hub. Only here in china is gambling legal. Earlier, a proposal to legalize gambling in thailand drew strong opposition from conservatives in the Buddhist country.
However, many Southeast Asian countries such as Cambodia, Singapore, Myanmar, and the philippines have already legalized gambling. Within a year of taking office, prime minister Shrethara Thavisin has been actively pursuing efforts to attract foreign investment to Thailand. He is in favor of legalizing casinos.
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Sowmiya Sriram

10/08/2024 05:19 PM