Las Vegas Sands explores potential entry into Thailand’s casino market

Jenny Ortiz April 22, 2024

SiGMA news

Las Vegas Sands explores potential entry into Thailand’s casino market

Responding to inquiries from investment bank analysts regarding Las Vegas Sands’ first quarter of 2024 results, CEO Rob Goldstein reiterated the company’s interest in Thailand’s possible casino market. Goldstein emphasized the potential for quicker entry into Thailand compared to Japan, with projections suggesting the possibility of the first casino opening as early as 2029.

Thailand is a promising destination for gaming industry expansion

Goldstein highlighted Thailand’s appeal as a prime resort destination in Asia, citing factors such as its large population, accessibility, and tourism attractiveness. The favourable tax regime proposed by the Thai government, coupled with plans for industry development and the issuance of multiple casino licenses, further enhances the country’s appeal to potential investors.

Industry experts assess potential impact of casino legalisation in Thailand

Industry analysts, including those at Maybank, have closely monitored developments in Thailand’s casino sector. Preliminary plans for entertainment complexes with casinos, particularly in strategic economic zones and tourist hotspots, have the potential to significantly boost tourism revenue and create employment opportunities, according to studies submitted to the Thai parliament.

According to the latest Maybank research, the Southeast Asian country could be on the brink of welcoming its inaugural Entertainment Complexes (EC), featuring casinos, as early as 2029, marking a significant shift in the country’s stance on gambling.

Government initiatives propel Thailand’s casino legalisation efforts

The Thai government’s proactive stance on reviewing proposals for entertainment complexes with casinos underscores its commitment to fostering economic growth and curbing illegal gambling activities. With the Finance Ministry leading the evaluation process, stakeholders anticipate further updates and recommendations to be released in the coming months.

Positive outlook for Thailand’s gaming industry

Deputy Finance Minister Julapun Amornvivat expressed optimism regarding the potential benefits of entertainment complexes with casinos, including job creation, tourism enhancement, and revenue generation. Anticipated annual revenues from these complexes signal a promising future for Thailand’s gaming industry, positioning it as a key player in the region’s entertainment and tourism landscape.

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