Former Thai Prime Minister Thaksin Shinawatra strongly supports the legalization of casinos in Thailand, marking significant backing for the gambling industry under the new leadership of his daughter, Thailand's new Prime Minister Paetongtarn Shinawatra. This development follows the political shift after the resignation of former leader Srettha Thavisin.
Economic Vision and Casino Endorsement:
In a speech titled "Vision for Thailand," Thaksin outlined a comprehensive plan aimed at revitalizing Thailand's lagging economy. His plan focuses on building large integrated resorts (IR), which he believes will attract substantial investment and stimulate economic growth. According to Bloomberg, Thaksin plans to invest about 100 billion Thai Baht (approximately $2.9 billion) in Bangkok and about 50 billion Thai Baht (approximately $1.45 billion) in each resort in other provinces.
Thaksin's proposal includes not only casino resorts but also a massive fiscal stimulus plan. He advocates a 500 billion Thai Baht ($4.5 billion) subsidy program, with about 50 million Thai citizens receiving 10,000 Thai Baht each through digital wallets. These funds are designated for local spending within six months, aimed at providing an immediate economic boost as early as September.
According to GGRAsia, in discussing broader economic strategies, Thaksin emphasized the necessity of cooperation between the government and the private sector to address national economic challenges. He highlighted the current economic conditions and stated that although the Thai economy might have reached its lowest point, it is unlikely to decline further due to government efforts.
Political Influence and Policy Implications:
Although Thaksin is not an official member of the Pheu Thai Party led by his daughter, his influence is expected to play a key role in shaping government policies. After 15 years in exile and a royal pardon that reduced his sentence from eight years to six months, he returned to Thailand and became a key figure in the country's political arena.
According to Inside Asian Gaming, William J Jones, Assistant Professor of International Relations at Mahidol University International College in Bangkok, revealed to IAG that Thaksin and his daughter are likely to continue supporting the casino legalization plan. He commented, "As the new Prime Minister, Thaksin and his daughter will continue to push forward the casino plan, as tourism, including MICE tourism, is a crucial pillar of the Pheu Thai Party's economic policy."
The casino legalization proposal was introduced during a broader legislative review, following the recent conclusion of the public feedback period for the casino legislation draft. The legislation outlines the key governance and operator requirements necessary for the future legalization of gambling in Thailand.
