Former Thai Prime Minister Thaksin Shinawatra has expressed strong support for the legalization of casino resorts in Thailand, marking a significant endorsement for the gambling industry under the new leadership of his daughter, Paetongtarn Shinawatra, Thailand’s newly appointed Prime Minister. This development follows the recent political shift after the ousting of former leader Srettha Thavisin.
Economic vision and casino endorsement:
In his speech titled “Vision for Thailand,” delivered on Thursday, August 22nd, Thaksin outlined a comprehensive plan aimed at rejuvenating Thailand’s lagging economy. High on his agenda are large-scale Integrated Resorts (IRs), which he believes will attract substantial investment and stimulate economic growth. Bloomberg reported that Thaksin projects an investment of approximately THB100 billion (US$2.90 billion) for a potential IR in Bangkok and around THB50 billion (US$1.45 billion) for each additional resort in other provinces.
Thaksin’s proposal includes not only casino resorts but also a substantial fiscal stimulus plan. He advocates for a THB500 billion (US$4.5 billion) handout initiative, where about 50 million Thai citizens would receive THB10,000 each through a digital wallet. These funds would be designated for local spending within a six-month period, aiming to provide an immediate boost to the economy as early as September.
As GGRAsia reports, discussing broader economic strategies, Thaksin emphasized the necessity for the government and private sectors to collaborate in addressing the nation’s economic challenges. He highlighted the current economic conditions, suggesting that while the Thai economy may have reached its lowest point, it is unlikely to decline further thanks to governmental efforts.
Political influence and policy implications:
Although Thaksin is not officially part of the Pheu Thai party his daughter leads, his influential status is expected to play a crucial role in shaping governmental policies. His return to Thailand after a 15-year exile and a subsequent six-month prison term, which was reduced from an original eight-year sentence due to a royal pardon, positions him as a pivotal figure in the country’s political landscape.
As Inside Asian Gaming reports, William J Jones, Assistant Professor of International Relations at Bangkok’s Mahidol University International College, shared with IAG that Thaksin and his daughter would likely continue to support the casino legalization plan, commenting: “Thaksin and his daughter as new PM will continue with the casino plan, as tourism including MICE is a major plank of Pheu Thai’s economic policies.”
The proposal for legalized casinos comes amid a broader legislative review, following a public feedback period on draft casino legislation that ended recently. This legislation outlines key governance and operator requirements essential for the future of legalized gambling in Thailand.
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Vanja Mitic 2024-08-23 13:53:59
