Thailand could reconsider stance on casino industry

The Asian country could reconsider its stance after the passing away of King Bhumibol, who was against the industry. Thailand could increase tourism by nearly 50 percent and the state could get US$2.8 billion in gambling tax revenue.

Thailand.- Casinos have been forbidden for 70 years under the King Bhumibol Adulyadej’s regimen, and since a new monarch will take his place, multiple sources think that the country’s stance could change under a new regime.

Thailand is currently one of the three Asian countries that are yet to legalise casino gambling, along with Indonesia and Brunei. Global casino operators such as Las Vegas Sands Corp expressed their interest in developing casinos if they get legalised in the country.

An important amount of revenue is lost in Thailand as gamblers usually travel to Myanmar and Cambodia to gamble. Thailand depends on its tourism industry, and based on a report prepared by the Department of Tourism, the activity brought in more than 30 million visitors in 2015.

Dean Sungsidh Piriyarangsan, from the Rangsit University College of Social Innovation, said that if Thailand changes its stance on casino industry, the country could increase tourism by nearly 50 percent and the state could get US$2.8 billion in gambling tax revenue.

Grant Govertsen, a Union Gaming analyst, said: “Over the near-term, we expect at least a month-long period of very soft Thai-originated gaming volumes at several border casinos run by publicly traded operators. Over the long-term, a newly elected government under the new monarch, or perhaps a strengthened military government, could green light the holy grail of gaming expansion in Southeast Asia.”