BANGKOK – July 28, 2012 [PDN]; Mr. Thanint Jiaravanon, chairman of the board and chairman of the administrators of Charoen Phokphand group, said that Thailand should make casinos legal and open them in tourist attraction spots like Phuket, Chiang Mai and Pattaya.
He said many underground casinos already exist in Bangkok and other areas, so it’s a good idea to legalize them, in order to pull tourists from Macau and Las Vegas.
He pointed out that Macao only occupies a small area, but casinos there average 879,779 baht per year in revenue. According to published reports, Macau gambling revenue in 2011 totaled 33 billion dollars, or 1 trillion THB.
Mr. Thanin added that casinos would help Thailand’s accommodations and hotel business, and activate every sector in Thai economic system to generate more income and salaries.
In addition, the extra revenue would allow the government to reduce corporation taxation to 17%, which would activate foreign countries to invest in Thailand.
He cautioned that the gambling income must be monitored and controlled by the Thai government. He said it would be helpful to study Singapore’s gambling industry, which was legalized a few years ago.