Legalizing Gambling in Thailand

By Chayut Setboonsarng

BANGKOK (Reuters) – A top executive at Agoda highlighted that casinos and related attractions could significantly increase foreign arrivals to Thailand as the country approaches legalizing gambling.

Thailand plans to develop its first large-scale "entertainment complex" including a casino, targeting job creation and attracting more tourists and investment.

Omri Morgenshtern, CEO of Agoda, stated, "It's the experience around gambling – think about Macau and Vegas, it usually includes incredible shows, food, and amazing hotels."

He noted the importance of amusement parks, museums, and children’s activities, using Singapore's Marina Bay Sands as a successful example. Morgenshtern also pointed out that casinos can attract visitors year-round, enhancing low-season tourism.

Tourism drives Southeast Asia's second-largest economy, with a 29% increase in foreign arrivals in the first 10 months of this year compared to the same period in 2022.

Currently, only limited gambling is allowed in Thailand, such as state-controlled horse races and an official lottery, while illegal activities persist. Past efforts to legalize gambling faced opposition from conservatives and the public.

The government argues that legal casinos could increase state revenue and tourism, contrasting with neighboring countries like Cambodia, Singapore, and the Philippines that already benefit from large casino complexes.

In 2019, Thailand welcomed a record 39.9 million foreign visitors who generated significant revenue of 1.91 trillion baht ($55.98 billion).

The government aims for 40 million foreign arrivals and 3.4 trillion baht in tourism revenue next year—a target Morgenshtern believes is achievable with healthy global travel demand.

Agoda operates in Thailand and Singapore as a subsidiary of Booking Holdings.

($1 = 34.1200 baht)