Thailand IRs: Asian Gaming’s Next Big Thing?
The new prime minister of Thailand is pushing casino resorts as a means of increasing traveller traffic and income. One analyst claimed that if the Thai industry performed well, it could surpass Singapore in terms of GGR.
Back in 2018 the gaming industry was buzzing with excitement about Japan’s potential to become a casino giant. Experts predicted billions in revenue, rivalling even Macau. But then COVID-19 came and those dreams were put on ice. Japan eventually granted a single casino license a far cry from initial expectations. Now the industry is looking east again, this time to Thailand.
Thailand’s Ambitious Casino Plans
Industry veteran Daniel Cheng believes Thailand is aggressively pursuing casino development aiming to open its doors before Japan’s first casino even launches. He even suggests that Thailand could become Asia’s second-largest gaming hub right after Macau.
Under the leadership of Prime Minister Srettha Thavisin the country is fast-tracking casino legislation a stark contrast to Japan’s slow-paced approach. The hope is that casinos will boost tourism and the economy creating thousands of jobs and attracting billions in foreign investment.
Studies indicate that casinos could significantly increase tourist spending. With millions of visitors annually the potential economic impact is enormous.
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A Lucrative Market Beckons Global Giants
Thailand is expected to grant five to eight casino licenses, with prime locations like Bangkok, Phuket, and the Eastern Economic Corridor in the running. The prospect of a casino in Bangkok with its rich culture and vibrant entertainment scene is particularly enticing.
Major casino operators are already lining up. Companies like Wynn Resorts, MGM and Las Vegas Sands are eyeing Thailand alongside Asian giants like Galaxy Entertainment Group and Genting Berhad.
The success of Thailand‘s casinos will depend on several factors: attracting top-tier operators creating a unique blend of world-class entertainment and Thai culture and staying ahead of the competition from other Asian gaming destinations.
The Prime Minister of Thailand said:
In his inaugural monthly television address as Thailand’s Prime Minister, Srettha Thavisin outlined ambitious plans to legalise casinos and build a nuclear power plant to tackle illegal gambling as well as reduce high electricity costs, which have been sources of public discontent.
