Let's go gambling
Re: "Divisive casino scheme put up for reconsideration", (BP, Dec 4).
By allowing our parliamentarians to form a 60-strong committee to study the legalisation of casinos, Prime Minister Prayut Chan-o-cha has struck a blow against illegal gambling den operators and their supporters who are the loudest voices in support of maintaining the ban on casinos.
Casinos located in every neighbouring countries like Laos, Cambodia, Malaysia, the Philippines and Singapore, have siphoned off billions of baht annually from the Thai economy, while attracting massive investment, generating significant employment and tax revenues, and becoming major tourist attractions.
Our parliamentarians need look no further than Singapore to find a model for the successful development and regulation of a world-class gaming industry. When it opened in 2010, after an investment of US$5.5 billion, the Marina Bay Sands immediately established itself as an icon of the country.
With a gross floor area of over 580,000 sqm and more than 2,500 hotel rooms with full convention facilities, this mega-IR (Integrated Resort) immediately became a must-visit destination, even although the casino occupied less than 3% of the total area. So successful have the first two casinos been, in 2019 they committed an additional combined investment of US$6.3 billion for expansion and extension of their licences until 2030.
The scale of Thailand's tourism industry, once it returns to its 2019 momentum, suggests Thailand could attract domestic and foreign investment of US$10-15 billion for three licences for mega-IRs in Bangkok, Pattaya and Phuket.
At the same time, by legalising and transparently regulating the gaming industry, Thailand could eliminate many of the social ills associated with illegal gambling dens.