As Thailand is on track to advance a bill that would introduce the first casino resorts in the country, academics have cautioned that the potential societal costs may be too steep to bear, and outstrip the theoretical windfall from tax levied on casino floors.
Thai Academics Doubt Good That Will Come Out of Casino Resorts
Thailand has been looking to throw its hat in the local casino resort ring for many years now, and a bill that is in the final stages of preparation should allow the country to push on and introduce its first casino resort ahead of Japan’s, giving the country an advantage.
Local players would not be prohibited from playing, but they would need to pay a fee of 5,000 baht to enter the casino every time they visit. Foreigners would be charged a 5,000 baht fee once a year.
Although the outlook for casino resorts is positive – they will create thousands of jobs, draw in wealthy spenders, and tackle illegal gambling all in one go – some experts worry that the benefits of legalizing gambling would end up short of the damage the new legislation would cause.
Economist Chidtawan Chanakul estimates that the regulation of casinos and the introduction of casino resorts would have an immediate impact on the levels of gambling-related harm and gambling addiction in the public.
“A study in the US has found that for every dollar earned from casinos in Las Vegas, the US government has to pay 3 dollars to remedy the impact of casinos. It is therefore not worthwhile,” Chanakul said, citing international research.
She further lambasted the government over its job creation initiative that is tied to casinos. According to Chanakul, such jobs have no actual economic value. They are mostly low-skilled and they would not help the country transition to a high-income gap.
Corruption Makes Casino Resorts Even Less Likely to Be Good for Society
She similarly disregarded an argument that the government had put forward – Singapore. The issue with Singapore, she argued, was that the country had a very low level of corruption, and Thailand was in contrast fairly corrupt – much more akin to the Philippines.
Chanakul was similarly backed by Nualnoi Trirat, director of the Centre for Gambling Studies, who was also sceptical of the positive impact gambling legalization would have. She too cited concerns about government, legislation, and ultimately – corruption, which could impede any meaningful impact from legalizing casino resorts.
No Comments
Hi, Neat post. There is a problem with your web site in internet explorer, would test this… IE still is the market leader and a huge portion of people will miss your fantastic writing due to this problem.
Your comment is awaiting moderation.