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The Thai government has taken the first step toward legalizing casinos in a bid to attract high-spending tourists to support the economy and curb revenue losses from illegal gambling.
MPs voted in favor of opening casinos within major entertainment complexes and scrapping a 52-year-old ban on alcohol sales between 2pm and 5pm. Legalizing casinos will increase tourism revenue by approximately $12 billion and increase average tourist spending per trip by 52%.
Thailand’s prime minister supports the move, which aims to strengthen regulation, taxation and economic opportunities to revive the tourism industry.
(Source: Bloomberg Image source: freepik)
