The government in Thailand is set to commence discussions over the legalisation of online gambling.
According to the Bangkok Post, Deputy Prime Minister Prasert Jantararuangtong emphasised the need for alignment as he pitched the potential benefits of the iGaming market.
Whilst he did highlight the risks involved with the market flourishing he also emphasised just how positive the taxation of the industry could be for the country’s economy.
Prasert, who also holds the role of Digital Economy and Society (DES) Minister, detailed his viewpoint that whilst there are risks involved with online gambling engagement, his belief is that these are better dealt with through regulation and when they aren’t pushed underground.
It follows accelerated movements for the land based sector to open up in the coming years following the pursuit of Prime Minister Paetongtarn Shinawatra to formalise plans for integrated resorts in the country.
She also warned against the black market, citing the potential of legalisation as being crucial when it comes to limiting engagement of underground gambling.
From the beginning of her premiership, Shinawatra’s policies left the industry feeling positive after her policy statement emphasised a key focus on the growth of entertainment and tourism engagement.
Her backing of the gambling sector was mirrored by that of her father, ex-Prime Minister Thaksin Shinawatra.
The framework for the iGaming market will be key though, with the integrated resorts regulation being somewhat limited in only enabling entertainment venues to be able to grant 10% of their floor space to gaming.
Furthermore, reports also suggest there will be a total of three venues in Bangkok, further tapping into the city’s economic opportunities.
As a continent, new markets in Asia are set to flourish in the years ahead with Japan laying bare its blueprint for the growth of its casino sector, when MGM confirmed the decision to waiver its right to withdraw from the Japanese casino sector, meaning plans for a casino launch in the region by 2030 are set to be formalised.
The debut casino project in the region is set to launch in Osaka and predicted to be worth around $10bn.
