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As the title of this video suggests, we are asking the question, is Thailand legalizing Casinos? Is it legalizing gambling? As we have discussed in other videos, certain activities involving gambling or gaming have been legal here in Thailand for some time now. For example, Thailand has a legal lottery, it also has certain betting functions associated with horse racing here in Thailand. That tradition goes back more than 100 years; in fact it goes back quite some time. That said, most activities that we would call gambling are currently illegal in Thailand and that appears to be changing. 

I thought of making this video after reading a recent article from the Nation, that is nationthailand.com, the article is titled: Thailand Casino plan could boost GDP growth to 4 to 5%: property developers. Quoting directly: "The Government's plan to open 20 Casino entertainment complexes in tourist cities across the country could boost Thailand's GDP to, (I think they mean "by") 4 to 5% per year. Or maybe "to 4-5%"; they want to go back to that growth on a yearly basis. "The Chonburi Real estate Association said. Hot topic debate after MP's last week approved a feasibility report on opening Casino entertainment complexes. Prime Minister Srettha Thavisin has also voice support for legal casinos." So again, the Prime Minister is sort of voicing some support. 

Let's get some further clarification. Go over to Bangkok Post, bangkokpost.com, the article is titled: TAT bullish on Casino investment. This provides a little bit more clarity, quoting directly: "Thailand is drafting the new legislation and regulations required to regulate entertainment complexes, which will include legal casinos." So it's my understanding, and at this time this is based on my research to this point, it's my understanding that essentially Parliament has approved a feasibility study. So they have sort of approved in principle the notion of having casinos in Thailand, and in principle they have approved the idea of up to 20 different casinos possibly scattered throughout the Kingdom - not just one complex but multiple complexes throughout the country - and again this is approved in principle. Legislation is still being drafted; this is not a foregone conclusion by the way. Again on this one I think the media has been a little bit better about being clear on the legal posture of all this. Unfortunately unlike Cannabis, where they have said things like "oh this is happening" or "it's being re-illegalized" and then you will read into it and, No they're discussing it but it's not necessarily a foregone conclusion; same with casinos at this point. 

That said, this is a major step. I have been watching this issue for over a decade and a half now here in Thailand, and this is one of the bigger events I have seen in a decade and a half with regard to the notion of legalized gambling here in Thailand. So this is not news that should just be sort of dismissed out of hand as "oh, nothing may come of it!" I think that there is strong momentum behind this. Now that said, again exactly what it looks like and what the Law looks like remains to be seen but it does offer a tremendous amount of potential in terms of Foreign Direct Investment here in Thailand as well as revenue accrued in terms of tourism and even, people fail to look at, casinos do create a lot of jobs. 

Now again as I have discussed in other videos, you've got to do a cost-benefit analysis regarding legalization of gambling and legalization of casinos. I've stated many times on this channel, I think it would be a good idea if Thailand looked at broadly allowing card rooms, specifically like poker rooms, throughout the country. Again not full casinos, but specifically poker, because poker is a skill game, and it's not gambling against the house, it really is a skilled endeavour. There is a reason largely the same people end up at the final tables of the World Series of Poker. It is skill, it's not purely luck unlike other endeavours that occur within sort of the casino space if you will. 

So I have thought for a long time that some diffusion of the economic benefits would be a good idea.  That said, the possibility of multiple casinos throughout the country, especially in provinces that may be able to suck in sort of folks from the other side of the borders of Thailand or also just generally tourists. So a lot of what has been discussed is a casino somewhere in the Pattaya area. I would bet it would be on or near the currently being built high-speed rail system that connects into the airports and things here in Thailand. Again that would draw in a lot of Tourism numbers that would be attracted possibly to a casino kind of environment.

That said, I definitely think that this is positive news for those who are interested in legalization of gambling here in Thailand. That said again, lawmakers, policy makers need to do a cost-benefit analysis and really be assiduous in ascertaining the benefits and the costs to the country and then proceeding therefrom.