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Betting on Betting: Thailand's Casino Ambitions and the Challenges Ahead
Thailand is moving to legalize casinos within integrated entertainment complexes ("IRs") to boost tourism and revenue. This has attracted interest from global casino operators and some local businesses. The proposed Entertainment Complex Act aims to create a well-regulated industry with responsible gaming and social safeguards. Key features include integrating casinos within larger entertainment complexes, licensing with Thai majority ownership, measures to prevent addiction and negative social impacts, and locations beyond Bangkok to distribute economic benefits. While public support exists, challenges include potential political instability and regulatory hurdles. Success hinges on government commitment to responsible development and a transparent, market-driven approach.