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Apr 24 2024

Minority party introduces amendment to Thai law

Many of Thailand's minority parties have submitted amendments to the country's gambling laws with the aim of legalizing land casinos and online gambling, the Bangkok Post newspaper reported on Thursday.

The idea is to raise public funds at a time when the national economy, including major tourism sectors, remains elusive after the COVID-19 pandemic.

The legalization move was led by Thailand's local Power Party. The political group is proposing to give it the power to run casinos in four of Thailand's most visited areas.

Such casinos can generate at least THB 400 billion (about $11.6 billion) to THB 600 billion (600 billion baht) in revenue each year, claimed Kovit Puangam, a member of Thailand's provincial development party.

In December, Thailand's National Assembly set up a subcommittee to investigate the country's possible legalization of casinos.

Gambling other than authorized horse racing and government lottery tickets has been prohibited since a law called the Gambling Act was enacted in 1935.

Revenue from tax collection and application fees for online casinos could generate around 1.5 trillion THBs, Mr. Corbitt argued.

About 10% will go to the finance ministry, while the rest will fund national welfare initiatives such as debt relief in the agricultural sector, student loans and job development, the Bangkok Post quoted Mr Kovit as saying.

The draft amendment to Korea's gambling law included verification of players to prevent minors from accessing such services.