Thai Prime Minister Paetongtarn Shinawatra has hit back at critics of plans for a casino complex, defending its goals of drumming up foreign investment.
The prime minister has argued back against critics of her plans for a controversial casino entertainment complex, with some saying that the space could become a front for money laundering. However, Ms Paetongtarn has pushed back, saying that the complex would bring major foreign investment and business opportunities without putting strain on taxpayers.
“The investment isn’t coming from the state or people’s tax money, it’s private and foreign capital,” said Ms Paetongtarn, as reported by the Bangkok Post. “That means more revenue through taxation, especially from regulated gambling.”
Rather than just being a casino, the prime minister asserted that it would include hotels, concert venues, convention halls, and more to become a well-rounded entertainment space.
“It’s about responsible gambling,” she continued. “There will be strict rules, background checks and security standards to ensure it’s not a place where anyone can walk in dreaming of winning millions and just leave with it. That’s not how it works.”
Growth via casino
Thailand wouldn’t be alone in pursuing such a strategy. It echoes that of Singapore, Japan, and the US, packaging together amenities into one place to foster economic growth.
“We don’t want to look back later and regret that Thailand was too slow again,” the prime minister said, referencing Japan’s plan to turn the Osaka World Expo site into an entertainment complex by 2030. “When we see things abroad and wonder why Thailand doesn’t have that, this is our chance.”
However, there is still some strong opposition to this idea, with Thanakorn Komkrit, secretary-general of the Stop Gambling Foundation, taking to Facebook to warn against the plans. Mr Thanakorn argued that non-financial businesses like casinos often skirt regulations on finance and taxes, making them ideal for money laundering. He wouldn’t be alone in his concerns, with such activities already occurring in countries like Australia and the UK.
“Are we ready to deal with this kind of 24/7 laundering convenience?” Mr Thanakorn asked in his post.
Featured image: Flickr, licensed under CC BY-NC-SA 2.0
