Business leaders agree casinos will bring revenue to Thailand, but advise caution
Business leaders have tentatively voiced support for legalising casinos in Thailand to bring more revenue to the country, but also called for strict control measures.
Meanwhile, some senior executives are urging careful consideration of the pros and cons before a decision on legalising casinos is made.
Supaluck Umpujh, chairperson of Thailand’s largest retail giants, The Mall Group, said entertainment complexes that include casinos would certainly draw more foreigners, and subsequently more revenue to the country.
“I agree 100% [with legal casinos]. If we can’t get rid of [illegal gambling dens], then legal ones should be allowed, so taxes can be properly collected,” she said.
Supaluck also said legal casinos would create more jobs and more revenue, which can then be used to fund infrastructure.
The Mall Group’s matriarch also said casinos and entertainment complexes would serve as a magnet for foreign tourists, much like casinos in Singapore. She claimed that Lee Kuan Yew, considered the founding father of modern Singapore, disliked casinos but saw their economic benefits.
The Thai government has proposed a draft law to set up entertainment complexes that would include legal casinos. A recent study by the University of the Thai Chamber of Commerce estimated that these casinos would on average earn about 100 billion baht per year, in addition to revenue for the national coffers.
Federation of Thai Industries (FTI) chairman Kriengkrai Thiennukul said many of Thailand’s neighbours have set up legal casinos, attracting substantial revenue to their countries.
He said legal casinos would also bring more tourists to Thailand, especially those looking to try their luck in gambling.
Suphajee Suthumpun, group chief executive officer of Dusit Thani Plc, agreed, saying legal casinos would help Thailand boost tourism revenue. However, she added, effective measures were necessary to not just boost tourist confidence, but also discourage illegal casinos.
Suphajee, whose company runs a leading hospitality chain in Thailand, also called for the country to be rebranded as a “quality tourism destination”, so the government’s efforts to earn 3.5 trillion baht from tourism this year could materialise. However, she admitted that this target was far higher than the all-time high of 3 trillion baht earned in 2019, one year before Thailand was struck by Covid-19.
Thienprasit Chaiyapatranun, president of the Thai Hotels Association, said he agreed with setting up legal casinos as a way of earning more money for the country. He pointed out that in addition to casinos, entertainment complexes would also house shopping malls, restaurants, luxury hotels, and venues for shows.
As for concerns that Thai punters could be overwhelmed with debt, Thienprasit suggested strict screening measures. For instance, he said, Thai gamblers could be required to provide a 2 million baht deposit before being allowed to enter a casino.
