Fate of Thailand's casinos depends on new government's decision

The future of casinos in Thailand remains uncertain following the ousting of Prime Minister Sretta Taweesin, who was accused of "ethical violations." Sretta, a key advocate for the establishment of entertainment complexes featuring casinos in the country, was removed from office after a Bangkok court found fault with his appointment of a cabinet member with a criminal past.

Pichit Chuenban, a former aide to ex-Prime Minister Thaksin Shinawatra, had previously served time for attempting to bribe Supreme Court officials. The court determined that Sretta was aware of Pichit's questionable integrity. Critics from the justice system argued that this appointment reflected Sretta's own lack of moral standards. In response to the ruling, Sretta stated to the media, “Our show is over," asserting his commitment to integrity during his tenure and denying any role in creating discord.

With Sretta's departure, the formation of a new government is urgent, and the prospects for casino resorts hang in the balance. Since his appointment in August of last year, Sretta had focused on revitalising Thailand’s struggling economy, with resorts, restaurants, and legal casinos as foundational elements of his strategy.

Discussions among lawmakers about issuing casino licences had gained traction, capturing the attention of major American gaming companies like Wynn Resorts, MGM, and Las Vegas Sands, along with Galaxy Entertainment Group and Malaysia’s Genting Berhad.

Analysts project that legal gambling could generate up to 536.6 billion baht (over $15 billion) annually, with casinos anticipated to enhance tourism revenue by approximately 2 billion baht per year and increase tourist spending by 52%.