Thailand is thinking of granting authorized casinos 30-year licenses; public comments on the draft regulations are welcome until August 18. The document that outlines these restrictions was produced by the Council of State, which is headed by the prime minister.
According to the draft regulations, licensees may extend the 30-year original duration of their casino licensing by an extra 10 years. These casinos would be a component of bigger “entertainment complexes,” which also included lodging facilities, meeting spaces, and tourism destinations.
Srettha Thavisin, the prime minister of Thailand, is in favor of legalizing casinos in order to stimulate the economy and raise tax income. A report by MPs arguing for licensed casinos in large entertainment venues to draw tourists was approved by the House of Representatives in March. A minimum of THB 100 (US$2.83 billion) would need to be invested in each casino resort.
Interest from Global Casino Brands
Four out of the six casino brands currently operating in Macau have expressed interest in investing in Thailand, pending more details on the regulations. Bill Hornbuckle, CEO and President of MGM Resorts International, indicated that any venture into Thailand would be managed through their Macau unit. MGM Resorts is already heavily invested in Asia, with the MGM Osaka project in Japan, valued at JPY1.27 trillion (US$8.76 billion), set to open in 2030.
Industry observers have identified five potential locations for casino resorts in Thailand: two in Bangkok, one in the Eastern Economic Corridor, one in Chiang Mai, and one in Phuket. These locations align with the government’s goal to enhance tourism, a key industry that accounts for about 20% of total jobs in Thailand.
Tourism remains a crucial part of Thailand’s economy. Bloomberg reported that foreign-visitor arrivals had increased by about 34% year-on-year, reaching over 20 million by July. The introduction of legalized casinos within entertainment complexes could further boost this sector, driving economic growth and creating jobs.
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