Thailand's Casino Plans Face Greater Opposition as Prime Minister Ousted
Thailand's plans to establish integrated casino resorts face increasing opposition from key political parties, particularly as the nation grapples with a fresh wave of political uncertainty following the ouster of Prime Minister Srettha Thavisin.
Thailand's Prime Minister Srettha Thavisin in a public appearance. (Source: Getty Images)
LISTEN TO THIS ARTICLE:The recently finalized casino bill has sparked debate among coalition members and opposition parties, with concerns centering around the economic viability, potential risks, and social impacts of such developments in the country. Bhumjaithai Party secretary-general Chaichanok Chidchob, speaking after a coalition meeting earlier this week, highlighted significant reservations raised by party members and the opposition Democrat Party regarding the casino bill.
Related: Thailand's Cabinet Gets behind Casino Legalization EffortAccording to a report by The Bangkok Post, Chaichanok outlined four key areas of concern. Firstly, the financial benefits projected from the casino projects have been questioned, with doubts expressed about whether the anticipated revenue justifies the substantial investment required. This skepticism is fueled by fears that the return on investment may not meet expectations, leading to financial strains on the national budget.
Secondly, critics argue that Thailand's tourism industry, already one of the strongest in Southeast Asia, does not necessarily require the addition of integrated casino resorts to bolster its appeal. The country is already a top destination for international travelers, attracting millions each year with its cultural heritage, natural beauty, and vibrant urban life. Opponents of the bill suggest that the introduction of casinos may not significantly enhance this already robust sector, and could even risk damaging the nation's image if not properly managed.
A third major concern centers on the employment opportunities that the casino resorts are expected to generate. The bill, according to Chaichanok, lacks detailed provisions on how Thai workers will be guaranteed jobs within these large-scale developments. There are fears that the resorts may prioritize foreign labor or that the types of jobs offered might not be as beneficial to the local workforce as anticipated. The potential displacement of local businesses by large international casino operators also adds to the apprehensions surrounding the bill.
More Business News
Political Instability Continues
Chaichana Detdecho, the Democrat Party's deputy secretary-general, voiced additional concerns, particularly regarding the potential for Thai integrated resorts (IRs) to replicate the success seen in regions like Singapore and Macau. He questioned whether Thailand's IRs would be able to achieve similar levels of economic growth, given the differences in market conditions, regulatory environments and social contexts.
The comparison with Singapore and Macau is crucial. Both have established themselves as global casino hubs with specific models that might not translate well to the Thai context.
These internal disputes within the coalition come at a time of heightened political instability in Thailand. This has now been exacerbated by the recent dismissal of Prime Minister Thavisin and his cabinet.
The Constitutional Court's ruling, which found Srettha guilty of an ethics violation for appointing a lawyer with a questionable background to his cabinet, has plunged the country into uncertainty. The court's decision, made by a narrow 5 to 4 vote, led to the immediate removal of Srettha and his cabinet, deepening the political crisis and leaving the future of the casino bill even more uncertain.
As a result, the debate over the value of an IR market could intensify. The now-former prime minister was supportive of the idea but, as the Pheu Thai Party moved to select Chaikasem Nitisiri as Srettha's replacement, political favors will determine the next course of action.
RELATED TOPICS: Business
Latest News
Most Read
Must Read
Interviews
Review this New Post
Leave a Comment
User Comments
Comments for Thailand's Casino Plans Face Greater Opposition as Prime Minister Ousted