With Thailand moving ahead with plans to legalise casinos, trade website Inside Asian Gaming (IAG) has surveyed 15 casino operators on their intentions in the emerging market.
Each operator had “either publicly stated their interest or could be in a realistic position to make a Thailand bid,” its report said. Of them, only six appeared likely to do so – and three of them are based in Macao. The report did not reveal the names of the operators, though it has been widely understood that Melco Resorts & Entertainment recently established a representative office in Bangkok in anticipation of opening a casino there.
The report said that of the three other potential candidates, two were US-based while the third was based elsewhere in Asia.
[[See more: Thailand scraps a deposit rule designed to deter locals from its future casinos]
IAG said that some of the operators it contacted confirmed they had no intention of applying for a Thai concession, while others said they were more focused on existing operations – but keeping an eye on developments. It noted that the actual number of bidders could end up being higher than six, though given uncertainty around what the finalised legislation would look like, it could also be lower.
The report also pointed to Japan’s flirtation with opening up its gambling industry back in 2018, which resulted in just one casino operator – MGM – receiving a license.
“Although the potential of Thailand to become one of the world’s largest gaming markets is undisputed, many of those seen as potential suitors have been recently burned by the ‘next hottest thing in global gaming’ – Japan springs to mind – and remain wary of committing to the opportunity until more details come to light,” the report said.
Given thailand’s existing tourism infrastructure and potential for attracting high-spending tourists, how likely is Thailand to become a major player in the global casino market?
Table of Contents
- 1. Given thailand’s existing tourism infrastructure and potential for attracting high-spending tourists, how likely is Thailand to become a major player in the global casino market?
- 2. Thailand Casino Legalization: An Expert Analysis with Mr. David Chen
- 3. The Thailand Casino Boom: What’s Driving the Interest?
- 4. Who’s in the Running? Potential Casino Operators in Thailand
- 5. Lessons from Japan: Navigating the Pitfalls
- 6. Challenges and Opportunities
- 7. A Look Ahead: The Future of Casino Gambling in Thailand
Thailand Casino Legalization: An Expert Analysis with Mr. David Chen
Archyde News brings you an exclusive interview with Mr. David Chen,Senior Gaming Analyst at Global Market Insights,to delve into the burgeoning casino landscape in Thailand.
The Thailand Casino Boom: What’s Driving the Interest?
archyde News: mr. Chen, Thailand is poised to legalize casinos. What’s fueling this interest from major gaming companies, and what are the key drivers behind this shift?
David Chen: “The primary drivers include the potential for significant revenue generation, job creation, and the desire to regulate the existing gray market for gambling. Thailand sees casinos as a way to attract high-spending tourists and boost its economy. Additionally, the public support, with 80% approval in hearings, signals a welcoming habitat for the industry.”
Who’s in the Running? Potential Casino Operators in Thailand
Archyde News: Inside Asian Gaming (IAG) recently surveyed casino operators. What did their findings reveal about the potential bidders?
David Chen: “IAG’s survey suggests that onyl six operators seem likely to apply for a Thai casino license. Interestingly, three of these are based in Macao. Melco Resorts & Entertainment, as an example, has already established a representative office in Bangkok. The report also indicates potential interest from U.S.-based and other Asian operators.”
Archyde News: Japan’s experience with casino legalization was unique. What lessons can Thailand learn from Japan’s approach?
david Chen: “Japan’s experience highlights the importance of detailed regulations. in Japan, only one operator, MGM, ended up securing a license. Thailand must consider that potential suitors are often wary of committing until the finalized legislation is clear, detailing entry requirements for locals, and outlining the licensing process. Avoiding the uncertainty seen in Japan will be crucial.”
Challenges and Opportunities
Archyde News: What are some of the main challenges and opportunities for companies looking to enter the Thai casino market?
David Chen: “Challenges include navigating regulatory hurdles, competition, and the economic stability of the market. Though, the opportunities are immense. Thailand has a large tourism sector, and the market has huge potential to become one of the largest gaming markets globally. The location and expected tourist revenue are major draws.”
A Look Ahead: The Future of Casino Gambling in Thailand
Archyde News: the potential licensing processes are still unknown. What are the most likely challenges the government and these firms would have to face during the next license round?
david Chen: “The major challenge is to balance regulatory oversight with market attractiveness. The licensing process needs to be obvious and fair to encourage investment. Also, addressing concerns on responsible gambling and community impact is key. A well-defined framework will be crucial to attract the right kind of investment and ensure long-term sustainability. The government might also be focusing on infrastructure within these entertainment complexes,”
Archyde News: Mr. Chen, thank you for your invaluable insights.
David Chen: “My pleasure.”
Archyde News: What are your thoughts on the future of the Thailand casino market? Share your comments below.
