Thailand's deputy PM says casinos could offset trade losses from U.S. tariffs

Thailand’s deputy prime minister has pitched casino legalization as a potential economic buffer against sweeping U.S. trade tariffs, as a controversial gambling bill heads to parliament amid rising political and public opposition.

Deputy Prime Minister Phumtham Wechayachai said revenue from casino resorts could help offset the country’s projected export losses following U.S. President Donald Trump’s announcement last week of tariffs ranging from 10% to over 50% on goods from more than 60 countries, including a 36% levy on Thai exports.

The new trade measures could cost Thailand up to $15 billion in export revenue and derail economic growth in 2025, according to Thai media reports.

“This isn’t about encouraging gambling – it’s about economic survival,” Phumtham said, defending the proposed Thailand Entertainment Complex Bill, which would legalize casino resorts in four locations: Bangkok, Chiang Mai, Chonburi, and Phuket.

Supporters of the bill argue that the resorts could generate gross gaming revenue of $9 billion to $15 billion per year, potentially positioning Thailand as the third-largest gambling market globally, behind only Macau and Las Vegas.

Prime Minister Paetongtarn Shinawatra said her government had a “strong plan” to address the tariff fallout, including diplomatic engagement with Washington. “We have prepared several steps, including sending our permanent secretary to talk with [the U.S.]. I think we can still negotiate,” she told reporters last week.

However, the casino proposal has sparked backlash from civil society, opposition figures, and segments of the public. In an open letter to parliament on April 6, 50 former drafters of the 2007 constitution urged lawmakers to reject the bill, claiming it was not part of the ruling Pheu Thai party’s platform. 

They also accused former prime minister Thaksin Shinawatra, Paetongtarn’s father, of engineering the plan behind the scenes to serve personal interests.

Critics warn that casino legalization could increase crime and gambling addiction. A January poll found 59% of respondents opposed the entertainment complexes, and fewer than 20% strongly supported online gambling legalization.

In opposition, the government has cited an online survey by the Fiscal Policy Office showing 80% support for casino legalization among over 70,000 participants. But the poll has drawn skepticism, with former election commissioner Somchai Srisutthiyakorn calling the results “improbable.”

Some economists have also cast doubt on the feasibility of using gambling revenue to offset trade losses. Olu Sonola, head of U.S. economic research at Fitch Ratings, told MarketWatch the tariffs “are a game-changer” that could push many countries into recession.