We will follow the example of Las Vegas: Thailand’s Thaksin tells supporters

Former prime minister Thaksin Shinawatra on Jan 18 told Nakhon Phanom residents that if enacted, the government’s Entertainment Complex business bill would benefit the Thai economy, especially in creating jobs for local communities.

The draft law aims to legalise the kingdom’s vast underground gambling industry, allowing the establishment of casino-entertainment complexes to generate tax revenue.

The patriarch of the ruling Pheu Thai Party was speaking at the party’s campaign for its candidate for the upcoming election for president of the Provincial Administrative Organisation (PAO) in the northeastern province.

“We will follow the example of Las Vegas,” Mr Thaksin said to supporters. “Each complex will have hotels with more than 1,000 rooms, concert halls, sport arenas, meeting halls, water parks, or even a ski resort with artificial snow.”

He insisted that the casino areas will account for less than 10 per cent of the complex, which will generate up to 20,000 jobs for locals with a salary at least 20,000 baht (S$793) per month.

“This is an idea that the current government has continued from the previous administration, which surveyed the public, and very few people opposed it. We will ensure everything is regulated properly, according to the principles followed by developed countries,” the former PM said.

Mr Thaksin added that the draft law proposes to enable the state to collect tax revenue from online and normal gambling, which he believed there are currently 2.5 million to 4 million people playing per day.

“We will strictly prohibit those under 20 from playing, while those who have become gambling addicts will given proper rehabilitation,” he added.

In an interview with reporters, who asked about the future of cryptocurrency under Pheu Thai administration, Mr Thaksin said cryptocurrency is not related to gambling, but a new form of currency that is backed by assets, such as gold or government bonds.

He said the cryptocurrency plan that the government proposed is a stablecoin, adding that Thailand will not accept risky cryptocurrencies, only those that are low-risk.

Mr Thaksin added that in October 2024, a cryptocurrency sandbox will be opened in Phuket province, which will be for business purposes first.

“Thailand needs to act fast, otherwise all the talents we have will migrate to the United States, which has already started (on cryptocurrency)” Mr Thaksin said. THE NATION/ASIA NEWS NETWORK

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