In a significantly positive sign for the progression of casino legislation in Thailand, ex Prime Minister Thaksin Shinawatra has declared his support for the sector.
The former Manchester City chief’s daughter became Prime Minister following the departure of previous PM, Srettha Thavisin, who was ousted following his violation of the constitution.
With the development and progress of the casino sector in the region forming a key part of Thavisin’s plans as integral to his ‘fun economy’, it was feared that the plans would be held back as a result of his exit.
However, as part of a talk this week entitled, “Vision for Thailand”, Shinawatra backed the casino legislation as an avenue to bolstering the region’s economy.
Whilst there has been little word from the new PM, Paetongtarn Shinawatra, the former leader underlined that the private sector needs to support the economy as it rises from a tough spot.
The plans have always been touted as a significant elevation for tourism in the region, as the bill enables the rise of entertainment venues, falling under the regulatory umbrella of a newly formed body.
Thailand’s bid to tap into the casino sector to boost its status as a tourist hotspot follows a global trend with the UAE and Japan also evolving regulations to look to the sector for growth. Prior to the departure of Thavisin, the casino bill had been put back to the public for feedback.
It had been predicted that Thailand’s debut casino could open as soon as 2029, as the path to a regulatory framework continues to accelerate.
Furthermore, the lucrative plans already have the backing of the country’s wider governance as it was propped up by studies that revealed just how significant the financial uplift could be for the Thai economy.
It was also revealed in the bill that the headquarters of the regulator will be in Bangkok. However, the possibility for expansion hasn’t been ruled out.
The progress in Thailand has inevitably spiked the interest of operators with a strong footprint in the region. Genting’s Malaysia-facing brand is eyeing Thailand as a potential venture for the firm.
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