🔝Thailand🇹🇭and France🇫🇷consider legalizing casinos to stimulate the economy

🔝Thailand🇹🇭and France🇫🇷consider legalizing casinos to stimulate the economy

The gambling industry—both land-based and online—generates significant revenue, prompting several countries to explore ways to tap into this economic potential.

➡️ In Thailand, only state-run lotteries and horse racing have been officially permitted so far; all other forms of gambling have operated without regulation. With a bill to legalize gambling now finalized, regulators aim to:

🫦 Boost tourism, increasing visitor numbers by 5% to 10% per year. Tourism revenues are expected to double, from $3.45 billion to $6.32 billion USD.

🫦 Create formal jobs (around 15,000).

🫦 Attract investments. After legalizing gambling, the next step will be to address the legalization of physical casinos.

➡️Regarding France:

🫦 In France, physical casinos are legal, but online slot machines are prohibited. The 2010 “Online Gambling Act” only allows sports betting, horse racing bets, and online poker.

🫦 A key concern: owners of brick-and-mortar casinos fear that online gambling could cannibalize their revenue—potentially reducing it by up to 30%. As a result, the push to legalize online casinos stalled in October 2024.

🫦 Nevertheless, the government is considering imposing a gambling tax of over 55%. According to the National Gambling Authority, this could generate up to €800 million annually. Traditional casinos will need to adapt to this shifting landscape.

#news #Asia #gambling #Europe

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