Thailand inches closer to casino legalisation pending House approval of study
A committee within Thailand’s House of Representatives tasked with assessing the viability of legalising casinos in the country is set to present its latest findings to parliament in the coming week.
As reported by the Bangkok Post, the second study affirms the potential for gaming legalisation.
Thai Deputy Finance Minister Julapun Amornvivat, leading the special House committee, confirmed the completion of their comprehensive study on the matter.
Amornvivat outlined that if the House endorses the study, it will progress to the cabinet for further review and potential implementation.
Sorawong Thienthong, vice chairman of the House committee, highlighted the significant revenue potential for the country, emphasizing that casinos would constitute only a fraction of larger complexes.
Presently, Genting Singapore appears poised to be the first entity formally expressing interest in developing an integrated resort (IR) in Thailand.
The potential of casinos in Thailand
Tourism stands as a cornerstone of the Thai economy, with Bangkok spearheading this effort and highlighting the city’s appeal to gaming operators.
In 2019, before the onset of the COVID-19 pandemic, Bangkok attracted 22.78 million visitors worldwide, surpassing London and Paris to claim the top spot in Mastercard’s Global Destination Cities Index.
This figure is undoubtedly of interest to Las Vegas Sands, particularly as it seeks to diversify its portfolio, which has been heavily focused on Macau.
Also in 2019, Phuket and Pattaya ranked 14th and 15th, respectively, on the Global Destination Cities Index that year, affirming Thailand’s popularity among tourists and suggesting that other regions within the country could also serve as suitable locations for integrated resorts.
Unlike Macau, where Sands and other concessionaires rely heavily on visitors from Hong Kong, mainland China, and Taiwan, Thailand welcomes tourists from various Asian countries such as China, India, and Japan, as well as from Australia, Russia, the UK, and the US, among others.
