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Thailand Could Become Next Big Casino Destination, Study Suggests

Thailand is one of several countries where gambling is illegal. Apart from horse racing and lottery, all forms of gambling are banned in the country. Research now shows that Thailand could be poised to become the third-largest gaming market in the world. Currently, the list includes countries like the USA, China, Japan, and others at the top.

Thailand has a booming tourism industry and is known for its opulent hotel and resort options. A report suggests that even though gaming could go full-scale in Thailand after six years, it still has an opportunity to reach the top listing, behind only Macau and Las Vegas and above Singapore.

If it were to allow gambling and card games, the country would have a lot going on. Since March 2022, general players have had to pay 18% up to their first $3.1 billion in gross gaming revenue and 22% after that. The Thai Parliamentary Casino Committee has drafted a bill that suggests 17% of the Gross Gambling Revenue (GGR). In retrospect, the Philippines levies a 25% tax, and Japan has a 30% tax rate.

Thailand has been working on making tourism more lucrative, and visa exemptions for nationals from India, China, and Russia have been removed. With travel costs coming down and an already lucrative tax rate, Thailand can become a big name in the casino industry.

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Asian cities and resorts have benefited from hosting casinos and poker series, gaining revenue and fame. From a resort’s point of view, signing with a poker tournament would mean they have booked around the year, as poker tournaments last twelve months. Casino tourism is lucrative for several secondary and tertiary businesses, including hospitality and travel, and it gives the country’s economy a big boost.

However, there is no saying when Thailand will allow gambling and gaming, as changing federal rules and regulations is a task, and there cannot be any time frame for it. But with the study out, all eyes are now on Thailand. Several Asia-based poker companies, such as the U Series of Poker (USOP) and Asian Poker Tour (APT), are vying for a new destination. These events work wonders for the economy, making it a simple decision for countries that are cash-strapped or are looking to make their tourism industry more lucrative than it already is.  Currently, there are plans for a licence duration of 20 years and only one type of licence. The casinos can also integrate entertainment like restaurants and bars, exhibition and conference facilities, as well as theme parks and health and wellness facilities. With the report and government bills already in place, it seems like just a matter of time before casinos in Thailand become a possibility.

Gutshot Magazine provides all relevant information and updates to the poker and casino industry. From the winners list to government and corporate activities that might impact the industry, we have it all. For more updates from the poker world, keep reading GutshotMagazine.com. Follow us on Facebook, Instagram, Twitter and Telegram.

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