La Thailandia riflette sulla legalizzazione dei casinò
In Southeast Asia's heart, Thailand is evaluating the potential benefits and risks of legalizing casinos, a move that could significantly revitalize its tourism industry and boost its economy, as demonstrated by Singapore's successful integration of casinos into its economy.
Bo Bernhard, Vice President of Economic Development at the University of Nevada, Las Vegas, has been advising governments on the economic and social impacts of casino-driven tourism for three decades. He argues that the global shift towards a middle-class population buying experiences is driving the growth of integrated resorts and casinos, a trend that Thailand could capitalize on to counter its slowing tourism sector.
If Thailand were to legalize casinos, it could potentially generate substantial revenue. Singapore's integrated resorts, for instance, have been estimated to generate up to S$10 billion (around THB300 billion) annually in Gross Gaming Revenue (GGR). Thailand's government estimates that legal casinos could generate up to THB400 billion (around $11 billion) annually if properly regulated, based on models similar to Singapore and Macau.
Besides revenue, casinos could also attract tourists and extend their stays. Singapore legalized casinos partly to avoid being a "boring" business hub, recognizing that integrated resorts with casinos could attract tourists and boost tourism numbers. Following this approach, Thailand could attract multi-billion-dollar investments from global operators like Wynn Resorts and MGM Resorts, potentially leading to the creation of 10,000 to 20,000 direct jobs and tens of thousands more indirectly in various sectors.
However, the path to economic benefits is not without challenges. Opponents in Thailand highlight potential negative social impacts, such as gambling addiction, crime, and other societal issues common in regions with legalized casinos. Thailand's current ban on almost all forms of gambling and its lack of support for problem gamblers underscore these concerns.
Moreover, Thailand's proposed restrictions on locals could reduce the attractiveness for investors and diminish economic benefits. Singapore initially had reservations about allowing locals free access to casinos but realized that restrictions limited the scale of investments. Thailand's draft bill proposes limiting casino access to foreign tourists and the ultra-wealthy by requiring proof of bank deposits of 50 million baht, a move that some argue could deter investments.
Political instability and public opposition are also significant hurdles. Thailand's recent attempt to legalize casinos has stalled and may be withdrawn due to intense public opposition and political upheaval, reflecting deep societal reservations about gambling in a predominantly Buddhist country.
In conclusion, the Singapore example shows that legalizing casinos within integrated resorts can substantially boost tourism, government revenue, and employment if managed well. However, Thailand's challenges include overcoming political instability, public skepticism, and managing social risks associated with gambling, which have led to the shelving of the casino legalization bill for now. The decision about casino legalization in Thailand rests with the Thai public and its lawmakers, with researchers like Bo Bernhard providing data for informed decisions.
- Bo Bernhard, an economist with experience advising governments, suggests that Thailand could capitalize on the global trend of integrated resorts and casinos to counter its slowing tourism sector, as observed in the successful integration of casinos into Singapore's economy.
- If Thailand were to legalize casinos and regulate them properly, it could potentially generate around THB400 billion ($11 billion) annually, similar to Singapore and Macau, attract multi-billion-dollar investments from global operators, create direct and indirect jobs, and boost its tourism industry, according to economic projections.
